Getty Images (NYSE:GETY) Stock Rating Upgraded by Zacks Research

Getty Images (NYSE:GETY) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on GETY. Weiss Ratings cut shares of Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Citigroup reduced their price target on shares of Getty Images from $1.85 to $0.85 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Finally, Wedbush reissued an “outperform” rating and set a $7.00 price target on shares of Getty Images in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Getty Images has a consensus rating of “Hold” and an average price target of $3.78.

Getty Images Trading Down 6.2%

Shares of GETY stock opened at $0.90 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $377.90 million, a PE ratio of -3.47 and a beta of 1.94. The company has a 50-day moving average of $0.83 and a two-hundred day moving average of $1.14. Getty Images has a 1-year low of $0.67 and a 1-year high of $3.21.

Getty Images (NYSE:GETY) last announced its earnings results 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 company had revenue of $226.57 million for 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 predict that Getty Images will post -0.02 EPS for the current year.

Insider Buying and Selling

In other Getty Images news, CEO Craig Warren Peters sold 167,403 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $0.78, for a total transaction of $130,574.34. Following the sale, the chief executive officer owned 1,289,548 shares of the company’s stock, valued at approximately $1,005,847.44. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Grant Farhall sold 42,022 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $0.78, for a total transaction of $32,777.16. Following the sale, the insider directly owned 288,190 shares in the company, valued at approximately $224,788.20. The trade was a 12.73% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 391,563 shares of company stock worth $305,419. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Getty Images

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Koch Inc. raised its holdings in Getty Images by 42.8% during the fourth quarter. Koch Inc. now owns 115,259,246 shares of the company’s stock worth $154,447,000 after purchasing an additional 34,525,639 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Getty Images by 43.8% during the second quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company’s stock worth $4,041,000 after acquiring an additional 742,008 shares during the last quarter. Readystate Asset Management LP purchased a new position in shares of Getty Images during the fourth quarter worth approximately $3,071,000. Geode Capital Management LLC grew its position in shares of Getty Images by 14.0% during the second quarter. Geode Capital Management LLC now owns 1,866,490 shares of the company’s stock worth $3,099,000 after acquiring an additional 228,532 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Getty Images by 160.7% during the fourth quarter. Millennium Management LLC now owns 1,530,821 shares of the company’s stock worth $2,051,000 after acquiring an additional 943,567 shares during the last quarter. Institutional investors and hedge funds own 45.75% of the company’s stock.

About Getty Images

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.