Getty Images (NYSE:GETY) Shares Gap Down on Disappointing Earnings

Getty Images Holdings, Inc. (NYSE:GETY) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. 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.

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

Analyst Ratings Changes

GETY has been the topic of a number of analyst reports. Macquarie restated a “neutral” rating and set a $3.75 target price on shares of Getty Images in a research report on Wednesday, January 8th. Benchmark dropped their target price on Getty Images from $6.00 to $4.50 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. restated an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. Finally, Wedbush restated an “outperform” rating and set a $7.70 target price on shares of Getty Images in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Getty Images has a consensus rating of “Hold” and a consensus target price of $5.24.

Insider Buying and Selling

In other Getty Images news, CFO Jennifer Leyden sold 12,342 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total value of $27,152.40. Following the transaction, the chief financial officer now directly owns 261,034 shares of the company’s stock, valued at $574,274.80. This trade represents a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig Warren Peters sold 32,753 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,212,648 shares in the company, valued at $2,667,825.60. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,521 shares of company stock worth $155,146. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GETY. BNP Paribas Financial Markets purchased a new position in Getty Images in the 4th quarter worth approximately $27,000. Aristeia Capital L.L.C. purchased a new position in Getty Images in the 4th quarter worth approximately $28,000. Ameriprise Financial Inc. purchased a new position in Getty Images in the 4th quarter worth approximately $28,000. Virtu Financial LLC purchased a new position in Getty Images in the 4th quarter worth approximately $33,000. Finally, Oxford Asset Management LLP purchased a new position in Getty Images in the 4th quarter worth approximately $33,000. 45.75% of the stock is owned by hedge funds and other institutional investors.

Getty Images Trading Down 0.7 %

The stock has a market cap of $922.86 million, a PE ratio of 18.71 and a beta of 1.97. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79. The company’s 50-day moving average price is $2.44 and its 200 day moving average price is $2.99.

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.