Getty Images (NYSE:GETY) Reaches New 52-Week Low - Here's Why

Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The company traded as low as $2.26 and last traded at $2.29, with a volume of 729523 shares. The stock had previously closed at $2.57.

Analysts Set New Price Targets

GETY has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Getty Images in a research note on Wednesday. Macquarie upped their price target on Getty Images from $3.50 to $3.75 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.61.

Getty Images Stock Performance

The company's 50 day simple moving average is $3.34 and its two-hundred day simple moving average is $3.47. The stock has a market cap of $941.36 million, a price-to-earnings ratio of 19.08 and a beta of 1.86. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79.

Insider Activity at Getty Images

In other Getty Images news, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $2.46, for a total transaction of $10,086,000.00. Following the completion of the sale, the insider now owns 74,175,262 shares of the company's stock, valued at $182,471,144.52. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chinh Chu sold 48,400 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $4.05, for a total value of $196,020.00. Following the transaction, the director now owns 9,706,670 shares in the company, valued at approximately $39,312,013.50. This trade represents a 0.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,269,927 shares of company stock valued at $10,739,630. Insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Getty Images

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Spartan Fund Management Inc. acquired a new stake in Getty Images in the 2nd quarter valued at approximately $33,000. CIBC Asset Management Inc acquired a new stake in shares of Getty Images in the second quarter worth $36,000. Principal Financial Group Inc. bought a new position in Getty Images during the second quarter worth $44,000. Intech Investment Management LLC acquired a new position in Getty Images during the 3rd quarter valued at $44,000. Finally, Aigen Investment Management LP bought a new stake in Getty Images in the 3rd quarter valued at $48,000. 45.75% of the stock is owned by institutional investors and hedge funds.

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.