Getty Images Holdings, Inc. (NYSE:GETY) Sees Large Decline in Short Interest

Getty Images Holdings, Inc. (NYSE:GETY) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 6,300,000 shares, a decline of 5.1% from the October 15th total of 6,640,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average trading volume of 299,600 shares, the days-to-cover ratio is presently 21.0 days.

Analysts Set New Price Targets

GETY has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Getty Images in a report on Tuesday, August 13th. Macquarie boosted their price objective on Getty Images from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Citigroup lowered their target price on Getty Images from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Getty Images Price Performance

Shares of NYSE:GETY opened at $2.90 on Tuesday. The business’s 50 day moving average is $3.74 and its 200-day moving average is $3.61. 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 firm has a market capitalization of $1.19 billion, a PE ratio of 24.17 and a beta of 2.02. Getty Images has a 1-year low of $2.88 and a 1-year high of $5.77.

Insider Buying and Selling at Getty Images

In other Getty Images news, CEO Craig Warren Peters sold 32,170 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $3.61, for a total transaction of $116,133.70. Following the completion of the sale, the chief executive officer now owns 1,245,401 shares of the company’s stock, valued at $4,495,897.61. This represents a 2.52 % 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. Insiders sold 169,427 shares of company stock worth $652,130 over the last ninety days. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Getty Images

Institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC lifted its holdings in shares of Getty Images by 95.7% during the 2nd quarter. Byrne Asset Management LLC now owns 9,200 shares of the company’s stock worth $29,000 after acquiring an additional 4,500 shares during the period. Spartan Fund Management Inc. acquired a new position in Getty Images in the second quarter worth about $33,000. CIBC Asset Management Inc bought a new position in Getty Images during the second quarter worth about $36,000. Natixis acquired a new stake in Getty Images during the first quarter valued at approximately $42,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Getty Images in the 2nd quarter valued at approximately $44,000. 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.