Getty Images (NYSE:GETY) Price Target Cut to $6.00 by Analysts at Benchmark

Getty Images (NYSE:GETY) had its price objective reduced by research analysts at Benchmark from $8.00 to $6.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 69.01% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Citigroup boosted their price target on Getty Images from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Wedbush restated an “outperform” rating and set a $7.70 price target on shares of Getty Images in a research note on Monday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.08.

Getty Images Stock Down 8.3 %

Getty Images stock traded down $0.32 during trading hours on Friday, reaching $3.55. The stock had a trading volume of 740,232 shares, compared to its average volume of 387,649. The business’s 50 day moving average price is $4.24 and its 200-day moving average price is $4.56. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.84 and a quick ratio of 0.84. Getty Images has a 52 week low of $3.41 and a 52 week high of $7.35. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 88.75 and a beta of 2.13.

Getty Images (NYSE:GETY) last announced its earnings results on Thursday, March 14th. The company reported $0.09 earnings per share for the quarter. Getty Images had a net margin of 2.11% and a return on equity of 9.30%. The company had revenue of $225.94 million during the quarter, compared to the consensus estimate of $227.00 million. Sell-side analysts anticipate that Getty Images will post 0.06 EPS for the current year.

Insider Activity

In related news, CAO Chris Hoel sold 32,663 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $5.00, for a total transaction of $163,315.00. Following the sale, the chief accounting officer now directly owns 53,626 shares of the company’s stock, valued at $268,130. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Getty Images news, Director Chinh Chu sold 238,520 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $4.95, for a total transaction of $1,180,674.00. Following the completion of the transaction, the director now owns 9,598,182 shares of the company’s stock, valued at $47,511,000.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Chris Hoel sold 32,663 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $5.00, for a total value of $163,315.00. Following the transaction, the chief accounting officer now directly owns 53,626 shares of the company’s stock, valued at approximately $268,130. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,276,490 shares of company stock valued at $5,677,587. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Getty Images

A number of hedge funds have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Getty Images in the third quarter valued at approximately $26,000. Kessler Investment Group LLC purchased a new position in Getty Images in the first quarter worth approximately $89,000. Fifth Lane Capital LP purchased a new position in Getty Images in the first quarter worth approximately $104,000. Corton Capital Inc. grew its position in Getty Images by 49.3% in the third quarter. Corton Capital Inc. now owns 16,864 shares of the company’s stock worth $109,000 after acquiring an additional 5,571 shares during the period. Finally, Victory Capital Management Inc. grew its position in Getty Images by 20.4% in the fourth quarter. Victory Capital Management Inc. now owns 25,309 shares of the company’s stock worth $133,000 after acquiring an additional 4,281 shares during the period. Institutional investors and hedge funds own 45.75% of the company’s stock.

About Getty Images

Getty Images Holdings, Inc offers creative and editorial visual content solutions in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Its products include Getty Images that offers creative and editorial content including stills, music and video which focuses on corporate, agency, and media customers; iStock.com, an e-commerce offering where customers have access to creative stills and video; Unsplash.com, a platform offering free stock photo downloads and paid subscriptions targeted to the high-growth prosumer and semi-professional creator segments; and Unsplash+ that provides access to unique model released content with expanded legal protections.