The Goldman Sachs Group Trims Getty Images (NYSE:GETY) Target Price to $6.00

Getty Images (NYSE:GETY – Get Rating) had its target price decreased by investment analysts at The Goldman Sachs Group from $7.00 to $6.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 22.45% from the stock’s previous close.

GETY has been the subject of several other reports. Citigroup raised Getty Images from a “neutral” rating to a “buy” rating and reduced their price target for the company from $33.00 to $8.00 in a research report on Tuesday, November 15th. Benchmark decreased their price target on Getty Images from $9.00 to $7.00 in a research note on Tuesday. Redburn Partners raised Getty Images from a “neutral” rating to a “buy” rating and cut their target price for the stock from $9.90 to $5.70 in a report on Wednesday, November 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $6.00 price objective on shares of Getty Images in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.83.

Getty Images Price Performance

Getty Images stock opened at $4.90 on Wednesday. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.74 and a quick ratio of 0.74. Getty Images has a one year low of $4.51 and a one year high of $37.88. The company’s fifty day moving average price is $5.85 and its two-hundred day moving average price is $6.73.

Getty Images (NYSE:GETY – Get Rating) last announced its quarterly earnings results on Monday, March 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.16). The business had revenue of $231.47 million for the quarter, compared to analysts’ expectations of $242.00 million. As a group, analysts anticipate that Getty Images will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Neuberger Berman Group Llc sold 73,555 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $7.89, for a total value of $580,348.95. Following the completion of the transaction, the insider now directly owns 64,523,168 shares in the company, valued at approximately $509,087,795.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Getty Images

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Getty Images by 167.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,987 shares of the company’s stock valued at $172,000 after acquiring an additional 19,394 shares during the last quarter. Carlyle Group Inc. bought a new stake in shares of Getty Images in the 4th quarter valued at about $66,061,000. Victory Capital Management Inc. lifted its stake in shares of Getty Images by 61.8% in the 4th quarter. Victory Capital Management Inc. now owns 22,850 shares of the company’s stock valued at $127,000 after acquiring an additional 8,725 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Getty Images by 90,312.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 28,932 shares of the company’s stock valued at $160,000 after purchasing an additional 28,900 shares during the last quarter. Finally, State Street Corp bought a new position in Getty Images during the 3rd quarter valued at approximately $73,000.

About Getty Images

(Get Rating)

Getty Images Holdings, Inc operates as a visual content creator and marketplace in the United States and internationally. It maintains privately-owned photographic archives covering approximately 160,000 news, sport, and entertainment events, as well as variety of subjects, including lifestyle, business, science, health and beauty, sports, transportation, and travel under the Getty Images, iStock, and Unsplash brands.