Getty Images (NYSE:GETY) Sets New 52-Week Low – Should You Sell?

Getty Images Holdings, Inc. (NYSE:GETY)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $1.2350 and last traded at $1.2450, with a volume of 1050864 shares. The stock had previously closed at $1.28.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GETY shares. Wedbush reiterated an “outperform” rating and set a $7.00 price target on shares of Getty Images in a report on Friday, October 31st. Weiss Ratings restated a “sell (d)” rating on shares of Getty Images in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Getty Images from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.03.

Getty Images Trading Down 2.7%

The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.96. The company has a market cap of $517.75 million, a PE ratio of -5.66 and a beta of 2.05. The stock has a 50 day moving average price of $1.64 and a 200 day moving average price of $1.80.

Getty Images (NYSE:GETY) last announced its earnings results on Monday, November 10th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Getty Images had a negative net margin of 9.60% and a negative return on equity of 11.38%. The firm had revenue of $240.04 million for the quarter, compared to analysts’ expectations of $239.98 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts predict that Getty Images Holdings, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Neuberger Berman Group Llc sold 3,470,917 shares of Getty Images stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $2.27, for a total transaction of $7,878,981.59. Following the completion of the transaction, the insider directly owned 70,641,345 shares in the company, valued at approximately $160,355,853.15. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cho Mikael sold 25,555 shares of Getty Images stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $2.11, for a total value of $53,921.05. Following the transaction, the senior vice president owned 131,348 shares of the company’s stock, valued at $277,144.28. The trade was a 16.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,584,654 shares of company stock valued at $8,116,086 in the last ninety days. Insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GETY. Vanguard Group Inc. boosted its position in shares of Getty Images by 2.4% during the first quarter. Vanguard Group Inc. now owns 10,471,652 shares of the company’s stock valued at $18,116,000 after buying an additional 246,403 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Getty Images in the first quarter worth approximately $4,646,000. JPMorgan Chase & Co. raised its holdings in shares of Getty Images by 43.8% during the second quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company’s stock valued at $4,041,000 after purchasing an additional 742,008 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Getty Images by 14.0% during the second quarter. Geode Capital Management LLC now owns 1,866,490 shares of the company’s stock valued at $3,099,000 after purchasing an additional 228,532 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Getty Images by 1,202.9% during the third quarter. Millennium Management LLC now owns 587,254 shares of the company’s stock valued at $1,163,000 after purchasing an additional 542,181 shares during the period. Hedge funds and other institutional investors own 45.75% of the company’s stock.

About Getty Images

Getty Images (NYSE: GETY) is a leading global provider of digital visual content, offering an extensive library of stock photography, editorial imagery, video footage and music. The company supplies creative and rights-managed assets to a broad range of industries, including advertising, media, corporate communications and publishing. Through its online platform and licensing services, Getty Images enables customers to search, license and download multimedia content for commercial and editorial use.

Founded in 1995 by Mark Getty and Jonathan Klein, Getty Images pioneered the aggregation of photographic archives into a centralized, digital marketplace.