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

Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $3.19, but opened at $2.89. Getty Images shares last traded at $2.71, with a volume of 2,444,035 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on GETY. JPMorgan Chase & Co. restated an "underweight" rating on shares of Getty Images in a research note on Wednesday, December 18th. Macquarie reaffirmed a "neutral" rating and set a $3.75 price objective on shares of Getty Images in a report on Wednesday. Finally, Wedbush reissued an "outperform" rating and issued a $7.70 price target on shares of Getty Images in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Getty Images presently has a consensus rating of "Hold" and an average price target of $5.61.

Getty Images Stock Down 18.2 %

The firm has a fifty day moving average price of $2.93 and a 200 day moving average price of $3.34. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 21.75 and a beta of 1.93. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84.

Insider Activity at Getty Images

In other Getty Images news, CEO Craig Warren Peters sold 32,753 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total value of $72,056.60. Following the transaction, the chief executive officer now owns 1,212,648 shares of the company's stock, valued at approximately $2,667,825.60. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jennifer Leyden sold 12,342 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total value of $27,152.40. Following the transaction, the chief financial officer now owns 261,034 shares of the company's stock, valued at $574,274.80. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,266,876 shares of company stock worth $10,629,182 over the last ninety days. Company insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Getty Images

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc bought a new stake in Getty Images during the 2nd quarter worth approximately $36,000. Intech Investment Management LLC bought a new stake in shares of Getty Images during the third quarter worth $44,000. Aigen Investment Management LP acquired a new stake in shares of Getty Images during the third quarter worth $48,000. Principal Financial Group Inc. bought a new stake in Getty Images in the 2nd quarter valued at $44,000. Finally, Verition Fund Management LLC bought a new stake in Getty Images in the 3rd quarter valued at $96,000. 45.75% of the stock is owned by institutional investors.

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.