Getty Images (NYSE:GETY) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Getty Images (NYSE:GETY) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Getty Images in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Getty Images currently has an average rating of “Reduce” and an average target price of $3.78.

Getty Images Stock Performance

Shares of Getty Images stock opened at $0.85 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.13. The company has a market cap of $354.86 million, a PE ratio of -3.26 and a beta of 2.06. Getty Images has a 1-year low of $0.58 and a 1-year high of $3.21. The company has a 50 day moving average of $0.86 and a 200-day moving average of $0.97.

Getty Images (NYSE:GETY) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $226.57 million for the quarter, compared to the consensus estimate of $238.90 million. Getty Images had a negative net margin of 10.94% and a negative return on equity of 17.01%. As a group, equities research analysts forecast that Getty Images will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Getty Images

In other Getty Images news, insider Michael Teaster sold 38,100 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $0.79, for a total transaction of $30,099.00. Following the completion of the sale, the insider directly owned 488,862 shares in the company, valued at approximately $386,200.98. This trade represents a 7.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Cho Mikael sold 33,143 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $0.94, for a total value of $31,154.42. Following the completion of the transaction, the senior vice president directly owned 162,904 shares in the company, valued at $153,129.76. This represents a 16.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 133,355 shares of company stock valued at $120,542. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Getty Images

Several large investors have recently modified their holdings of the stock. Koch Inc. raised its holdings in shares of Getty Images by 42.8% during the fourth quarter. Koch Inc. now owns 115,259,246 shares of the company’s stock valued at $154,447,000 after purchasing an additional 34,525,639 shares during the period. Readystate Asset Management LP acquired a new position in shares of Getty Images during the fourth quarter worth approximately $3,071,000. Millennium Management LLC lifted its holdings in shares of Getty Images by 160.7% in the 4th quarter. Millennium Management LLC now owns 1,530,821 shares of the company’s stock worth $2,051,000 after purchasing an additional 943,567 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Getty Images by 43.8% during the 2nd 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 in the last quarter. Finally, Weiss Asset Management LP lifted its stake in shares of Getty Images by 318.5% in the first quarter. Weiss Asset Management LP now owns 863,035 shares of the company’s stock valued at $685,000 after buying an additional 656,790 shares in the last quarter. 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.