Getty Images (NYSE:GETY) Shares Gap Down - Here's Why

Shares of Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $2.19, but opened at $2.10. Getty Images shares last traded at $2.09, with a volume of 167,786 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GETY shares. Benchmark lowered their price objective on shares of Getty Images from $6.00 to $4.50 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Macquarie reiterated a "neutral" rating and set a $3.75 target price on shares of Getty Images in a report on Wednesday, January 8th. Citigroup restated a "neutral" rating and issued a $2.45 price target on shares of Getty Images in a report on Monday. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Getty Images in a research note on Wednesday, December 18th. Finally, Wedbush reissued an "outperform" rating and issued a $7.70 target price on shares of Getty Images in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Getty Images currently has a consensus rating of "Hold" and an average target price of $4.60.

Getty Images Stock Down 6.0 %

The firm has a market capitalization of $748.81 million, a PE ratio of 15.13 and a beta of 1.97. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84. The firm's 50 day moving average price is $2.37 and its two-hundred day moving average price is $2.93.

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Getty Images (NYSE:GETY - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). Getty Images had a net margin of 5.91% and a return on equity of 6.42%. The business had revenue of $247.30 million for the quarter, compared to analyst estimates of $245.50 million. The business's revenue was up 9.5% compared to the same quarter last year. As a group, research analysts forecast that Getty Images Holdings, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Getty Images

In other news, SVP Cho Mikael sold 18,590 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $2.12, for a total transaction of $39,410.80. Following the transaction, the senior vice president now owns 123,862 shares of the company's stock, valued at approximately $262,587.44. This trade represents a 13.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Nathaniel Gandert sold 15,859 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $2.12, for a total value of $33,621.08. Following the completion of the sale, the chief technology officer now directly owns 534,377 shares of the company's stock, valued at approximately $1,132,879.24. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,668 shares of company stock valued at $480,536 in the last three months. Corporate insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Getty Images

A number of hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Getty Images by 3.6% in the 4th quarter. Rhumbline Advisers now owns 125,421 shares of the company's stock worth $271,000 after buying an additional 4,359 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Getty Images by 15.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,897 shares of the company's stock worth $80,000 after purchasing an additional 4,826 shares during the last quarter. FMR LLC increased its stake in shares of Getty Images by 5.0% in the third quarter. FMR LLC now owns 166,221 shares of the company's stock valued at $633,000 after purchasing an additional 7,897 shares during the period. ProShare Advisors LLC raised its holdings in shares of Getty Images by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 28,255 shares of the company's stock valued at $61,000 after buying an additional 9,297 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Getty Images by 25.4% in the 4th quarter. JPMorgan Chase & Co. now owns 46,590 shares of the company's stock worth $101,000 after buying an additional 9,434 shares in the last quarter. Institutional investors and hedge funds own 45.75% of the company's stock.

Getty Images Company Profile

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.