Getty Images (NYSE:GETY) Insider Michael Teaster Sells 38,100 Shares

by · The Markets Daily

Getty Images Holdings, Inc. (NYSE:GETY – Get Free Report) insider Michael Teaster sold 38,100 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $0.79, for a total value of $30,099.00. Following the completion of the sale, the insider owned 488,862 shares of the company’s stock, valued at approximately $386,200.98. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Teaster also recently made the following trade(s):

  • On Wednesday, March 25th, Michael Teaster sold 6,587 shares of Getty Images stock. The stock was sold at an average price of $0.78, for a total value of $5,137.86.

Getty Images Trading Down 3.9%

NYSE GETY opened at $0.76 on Friday. Getty Images Holdings, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $3.21. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day simple moving average of $0.88 and a two-hundred day simple moving average of $1.07. The stock has a market cap of $316.73 million, a P/E ratio of -2.91 and a beta of 2.03.

Getty Images (NYSE:GETY – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $226.57 million during the quarter, compared to analysts’ expectations of $238.90 million. Getty Images had a negative return on equity of 17.01% and a negative net margin of 10.94%. On average, analysts forecast that Getty Images Holdings, Inc. will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GETY. Koch Inc. increased its position in Getty Images by 42.8% during the 4th quarter. Koch Inc. now owns 115,259,246 shares of the company’s stock valued at $154,447,000 after buying an additional 34,525,639 shares in the last quarter. Readystate Asset Management LP bought a new position in Getty Images during the 4th quarter valued at approximately $3,071,000. Millennium Management LLC increased its position in Getty Images by 160.7% during the 4th quarter. Millennium Management LLC now owns 1,530,821 shares of the company’s stock valued at $2,051,000 after buying an additional 943,567 shares in the last quarter. JPMorgan Chase & Co. increased its position in Getty Images by 43.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company’s stock valued at $4,041,000 after buying an additional 742,008 shares in the last quarter. Finally, Weiss Asset Management LP increased its position in Getty Images by 318.5% during the 1st quarter. Weiss Asset Management LP now owns 863,035 shares of the company’s stock valued at $685,000 after buying an additional 656,790 shares in the last quarter. Institutional investors own 45.75% of the company’s stock.

Wall Street Analyst Weigh In

GETY has been the subject of a number of research analyst reports. Weiss Ratings cut Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Zacks Research upgraded Getty Images from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup lowered their target price on Getty Images from $1.85 to $0.85 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, Wedbush restated an “outperform” rating and issued a $7.00 target price on shares of Getty Images in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.78.

Get Our Latest Report on Getty Images

Getty Images Company Profile

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Getty Images (NYSE: GETY) is a leading global provider of digital visual content, offering an extensive library of stock photography, editorial imagery, video footage and music. The company supplies creative and rights-managed assets to a broad range of industries, including advertising, media, corporate communications and publishing. Through its online platform and licensing services, Getty Images enables customers to search, license and download multimedia content for commercial and editorial use.

Founded in 1995 by Mark Getty and Jonathan Klein, Getty Images pioneered the aggregation of photographic archives into a centralized, digital marketplace.

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