Getty Images Holdings, Inc. (NYSE:GETY – Get Free Report) shares dropped 8.4% during trading on Monday . The company traded as low as $2.41 and last traded at $2.41. Approximately 623,597 shares changed hands during trading, a decline of 95% from the average daily volume of 13,263,062 shares. The stock had previously closed at $2.63.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. Macquarie restated a “neutral” rating and issued a $3.75 target price on shares of Getty Images in a research note on Wednesday, January 8th. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Getty Images in a research note on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $7.70 price objective on shares of Getty Images in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.61.
View Our Latest Analysis on GETY
Getty Images Trading Down 6.8 %
Insiders Place Their Bets
In other news, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of Getty Images 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 sale, the insider now directly owns 74,175,262 shares of the company’s stock, valued at approximately $182,471,144.52. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chinh Chu sold 48,400 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $4.05, for a total transaction of $196,020.00. Following the completion of the transaction, the director now directly owns 9,706,670 shares in the company, valued at $39,312,013.50. This trade represents a 0.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,266,876 shares of company stock valued at $10,629,182. 12.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in Getty Images in the third quarter valued at about $44,000. Aigen Investment Management LP bought a new stake in shares of Getty Images in the 3rd quarter valued at about $48,000. Principal Financial Group Inc. acquired a new stake in shares of Getty Images in the 2nd quarter valued at approximately $44,000. Verition Fund Management LLC acquired a new position in Getty Images during the third quarter valued at approximately $96,000. Finally, Renaissance Technologies LLC bought a new stake in Getty Images in the second quarter valued at approximately $91,000. 45.75% of the stock is currently owned by 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.
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