Getty Images (NYSE:GETY) Trading Up 8% - Time to Buy?

Shares of Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report) shot up 8% during mid-day trading on Thursday . The company traded as high as $2.89 and last traded at $2.91. 2,578,161 shares were traded during trading, a decline of 54% from the average session volume of 5,581,422 shares. The stock had previously closed at $2.69.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GETY. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Getty Images in a research note on Wednesday, December 18th. Macquarie reissued a "neutral" rating and set a $3.75 price target on shares of Getty Images in a research note on Wednesday, January 8th. Benchmark reissued a "buy" rating and set a $6.00 price target on shares of Getty Images in a research note on Friday, January 10th. Finally, Wedbush reaffirmed an "outperform" rating and set a $7.70 target price on shares of Getty Images in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $5.61.

Getty Images Trading Up 0.2 %

The firm has a market capitalization of $1.17 billion, a P/E ratio of 23.63 and a beta of 1.95. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. The stock has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $3.21.

Insider Transactions at Getty Images

In other news, CFO Jennifer Leyden sold 12,342 shares of the business's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total value of $27,152.40. Following the completion of the transaction, the chief financial officer now directly owns 261,034 shares of the company's stock, valued at approximately $574,274.80. The trade was a 4.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $2.46, for a total value of $10,086,000.00. Following the completion of the transaction, the insider now directly owns 74,175,262 shares of the company's stock, valued at approximately $182,471,144.52. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,171,021 shares of company stock valued at $10,242,646. Corporate insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in Getty Images by 34.2% during the 4th quarter. Victory Capital Management Inc. now owns 79,384 shares of the company's stock worth $171,000 after buying an additional 20,239 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 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 buying an additional 146,576 shares during the last quarter. Rhumbline Advisers grew its stake in Getty Images by 3.6% during the 4th quarter. Rhumbline Advisers now owns 125,421 shares of the company's stock valued at $271,000 after purchasing an additional 4,359 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Getty Images during the 3rd quarter valued at about $221,000. Finally, Barclays PLC grew its stake in Getty Images by 47.1% during the 3rd quarter. Barclays PLC now owns 156,216 shares of the company's stock valued at $596,000 after purchasing an additional 49,995 shares during the last quarter. 45.75% of the stock is currently owned by hedge funds and other institutional investors.

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.