Getty Images (NYSE:GETY) Posts Earnings Results, Misses Expectations By $0.04 EPS

Getty Images (NYSE:GETY) posted its quarterly earnings results on Monday. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04), FiscalAI reports. Getty Images had a negative net margin of 9.60% and a negative return on equity of 11.38%. The company had revenue of $282.29 million during the quarter, compared to analyst estimates of $246.17 million.

Getty Images Trading Up 6.5%

Shares of GETY stock traded up $0.05 during trading on Monday, hitting $0.77. 2,164,971 shares of the stock traded hands, compared to its average volume of 3,022,043. Getty Images has a 52-week low of $0.67 and a 52-week high of $3.21. The firm has a market capitalization of $321.88 million, a P/E ratio of -3.52 and a beta of 2.14. The firm’s fifty day moving average price is $1.06 and its 200-day moving average price is $1.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.71 and a quick ratio of 0.71.

Analysts Set New Price Targets

A number of research firms have weighed in on GETY. Citigroup lowered their price objective on Getty Images from $1.85 to $0.85 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Getty Images in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Getty Images presently has a consensus rating of “Hold” and an average target price of $3.78.

Insiders Place Their Bets

In other Getty Images news, CEO Craig Warren Peters sold 31,298 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $1.27, for a total transaction of $39,748.46. Following the completion of the sale, the chief executive officer owned 1,215,438 shares of the company’s stock, valued at $1,543,606.26. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 74,919 shares of company stock valued at $95,147 in the last ninety days. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Getty Images

Several large investors have recently modified their holdings of GETY. Cerity Partners LLC acquired a new stake in shares of Getty Images during the 2nd quarter worth about $32,000. BNP Paribas Financial Markets lifted its position in Getty Images by 103.2% in the third quarter. BNP Paribas Financial Markets now owns 21,794 shares of the company’s stock valued at $43,000 after buying an additional 11,066 shares during the last quarter. Creative Planning purchased a new position in Getty Images during the second quarter worth about $75,000. The Manufacturers Life Insurance Company boosted its stake in Getty Images by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 49,458 shares of the company’s stock worth $82,000 after buying an additional 6,856 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Getty Images during the fourth quarter valued at about $91,000. Institutional investors and hedge funds 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.