Zacks Research Upgrades Getty Images (NYSE:GETY) to “Hold”

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

A number of other research analysts also recently weighed in on the company. Weiss Ratings downgraded Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Wedbush reiterated an “outperform” rating and issued a $7.00 price objective on shares of Getty Images in a report on Tuesday, May 12th. One investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.78.

Getty Images Price Performance

Shares of GETY stock opened at $0.47 on Tuesday. The firm has a market cap of $196.49 million, a price-to-earnings ratio of -1.80 and a beta of 2.11. Getty Images has a 12 month low of $0.36 and a 12 month high of $3.21. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.13. The stock has a 50-day moving average price of $0.71 and a 200 day moving average price of $0.85.

Getty Images (NYSE:GETY) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). Getty Images had a negative return on equity of 17.01% and a negative net margin of 10.94%.The business had revenue of $226.57 million for the quarter, compared to analyst estimates of $238.90 million. Research analysts expect that Getty Images will post -0.01 EPS for the current year.

Insiders Place Their Bets

In related news, insider Michael Teaster sold 38,100 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $0.79, for a total transaction of $30,099.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Cho Mikael sold 33,143 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $0.94, for a total value of $31,154.42. Following the sale, the senior vice president directly owned 162,904 shares in the company, valued at $153,129.76. The trade was a 16.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 133,355 shares of company stock valued at $120,542. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Koch Inc. lifted its holdings in shares of Getty Images by 42.8% in the fourth quarter. Koch Inc. now owns 115,259,246 shares of the company’s stock valued at $154,447,000 after purchasing an additional 34,525,639 shares in the last quarter. Readystate Asset Management LP acquired a new position in Getty Images during the 4th quarter worth approximately $3,071,000. Millennium Management LLC raised its holdings in shares of Getty Images by 160.7% in the fourth quarter. Millennium Management LLC now owns 1,530,821 shares of the company’s stock valued at $2,051,000 after purchasing an additional 943,567 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Getty Images by 43.8% in the second quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company’s stock worth $4,041,000 after purchasing an additional 742,008 shares in the last quarter. Finally, Weiss Asset Management LP grew its position in Getty Images by 318.5% in the first quarter. Weiss Asset Management LP now owns 863,035 shares of the company’s stock valued at $685,000 after purchasing an additional 656,790 shares in the last quarter. Institutional investors and hedge funds own 45.75% of the company’s stock.

Getty Images Company Profile

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.