Getty Images (NYSE:GETY) Shares Gap Down After Earnings Miss

Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $2.15, but opened at $2.05. Getty Images shares last traded at $2.19, with a volume of 602,023 shares traded.

The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05). The company had revenue of $247.30 million during the quarter, compared to analyst estimates of $245.50 million. Getty Images had a net margin of 5.91% and a return on equity of 6.42%. The firm's quarterly revenue was up 9.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Macquarie restated a "neutral" rating and set a $3.75 price objective on shares of Getty Images in a report on Wednesday, January 8th. Benchmark reduced their price objective on Getty Images from $6.00 to $4.50 and set a "buy" rating for the company in a report on Tuesday. Wedbush restated an "outperform" rating and set a $7.70 price objective on shares of Getty Images in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. restated an "underweight" rating on shares of Getty Images in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Getty Images currently has an average rating of "Hold" and a consensus price target of $5.24.

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Insider Activity at Getty Images

In other Getty Images news, CEO Craig Warren Peters sold 32,753 shares of the company's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction of $72,056.60. Following the completion of the sale, the chief executive officer now directly owns 1,212,648 shares in the company, valued at $2,667,825.60. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jennifer Leyden sold 12,342 shares of the company's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction 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. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,521 shares of company stock worth $155,146. Company insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Koch Inc. acquired a new stake in Getty Images in the fourth quarter valued at $183,865,000. Toronto Dominion Bank acquired a new stake in Getty Images during the 4th quarter worth about $3,553,000. Vanguard Group Inc. boosted its position in shares of Getty Images by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 10,225,249 shares of the company's stock worth $22,087,000 after purchasing an additional 698,829 shares in the last quarter. State Street Corp boosted its position in shares of Getty Images by 46.3% during the 3rd quarter. State Street Corp now owns 1,474,167 shares of the company's stock worth $5,617,000 after purchasing an additional 466,521 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Getty Images by 71.2% during the 4th quarter. Bank of New York Mellon Corp now owns 352,388 shares of the company's stock worth $761,000 after purchasing an additional 146,576 shares in the last quarter. 45.75% of the stock is currently owned by institutional investors and hedge funds.

Getty Images Stock Up 1.1 %

The company has a market cap of $913.84 million, a P/E ratio of 18.46 and a beta of 1.97. The stock's 50-day moving average price is $2.42 and its 200-day moving average price is $2.96. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84.

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.