Benchmark Trims Getty Images (NYSE:GETY) Target Price to $7.00

Getty Images (NYSE:GETY) had its price objective lowered by equities researchers at Benchmark from $8.00 to $7.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective would suggest a potential upside of 67.06% from the company’s previous close.

Several other research firms have also issued reports on GETY. Macquarie cut their target price on Getty Images from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 16th. Imperial Capital raised Getty Images from an “in-line” rating to an “outperform” rating and set a $5.75 price objective for the company in a research report on Tuesday, August 15th. Wedbush restated an “outperform” rating and set a $7.70 price objective on shares of Getty Images in a report on Wednesday. Citigroup dropped their price objective on shares of Getty Images from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. Finally, Redburn Atlantic lowered shares of Getty Images from a “buy” rating to a “neutral” rating and set a $6.00 price target on the stock. in a report on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Getty Images currently has an average rating of “Moderate Buy” and a consensus target price of $6.13.

Getty Images Stock Down 6.3 %

NYSE GETY traded down $0.28 during trading on Wednesday, reaching $4.19. 142,925 shares of the company’s stock traded hands, compared to its average volume of 604,199. Getty Images has a 12-month low of $3.42 and a 12-month high of $8.22. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -7.39 and a beta of 2.20. The company’s 50 day simple moving average is $5.35 and its two-hundred day simple moving average is $5.17.

Insiders Place Their Bets

In related news, CMO Gene Foca sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $7.14, for a total transaction of $1,428,000.00. Following the completion of the sale, the chief marketing officer now directly owns 335,956 shares in the company, valued at $2,398,725.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Gene Foca sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $7.14, for a total value of $1,428,000.00. Following the transaction, the chief marketing officer now directly owns 335,956 shares of the company’s stock, valued at $2,398,725.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cho Mikael sold 84,617 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $4.97, for a total transaction of $420,546.49. Following the transaction, the senior vice president now owns 158,925 shares in the company, valued at $789,857.25. The disclosure for this sale can be found here. In the last three months, insiders sold 568,096 shares of company stock worth $3,560,134. Corporate insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On Getty Images

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in Getty Images during the third quarter worth about $26,000. Tower Research Capital LLC TRC acquired a new stake in shares of Getty Images during the 3rd quarter worth approximately $28,000. UBS Group AG acquired a new stake in shares of Getty Images during the 1st quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new stake in shares of Getty Images during the 2nd quarter valued at approximately $41,000. Finally, Delphia USA Inc. acquired a new position in Getty Images in the first quarter valued at approximately $64,000. Institutional investors and hedge funds own 43.17% of the company’s stock.

Getty Images Company Profile

Getty Images Holdings, Inc operates as a creator and distributor of award-winning still imagery, video, music, and multimedia products. The company provides other forms of premium digital content, including music. Its award-winning photographers and imagery help customers produce inspiring work which appears every day in the world's most influential newspapers, magazines, advertising campaigns, films, television programs, and books.