Getty Images Holdings, Inc. (NYSE:GETY) Sees Significant Drop in Short Interest

Getty Images Holdings, Inc. (NYSE:GETY) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,230,000 shares, a drop of 5.6% from the March 15th total of 3,420,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 416,700 shares, the days-to-cover ratio is presently 7.8 days.

Analysts Set New Price Targets

Several analysts have issued reports on GETY shares. Citigroup lifted their price target on Getty Images from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Benchmark raised their price objective on Getty Images from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Wedbush restated an “outperform” rating and issued a $7.70 price objective on shares of Getty Images in a report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.35.

Insider Buying and Selling

In related news, Director Chinh Chu sold 10,121 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $4.00, for a total transaction of $40,484.00. Following the sale, the director now owns 8,540,019 shares of the company’s stock, valued at approximately $34,160,076. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Getty Images news, Director Chinh Chu sold 10,121 shares of Getty Images stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $4.00, for a total value of $40,484.00. Following the sale, the director now owns 8,540,019 shares of the company’s stock, valued at approximately $34,160,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Gene Foca sold 29,289 shares of Getty Images stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $4.41, for a total value of $129,164.49. Following the completion of the sale, the chief marketing officer now directly owns 430,973 shares in the company, valued at approximately $1,900,590.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,253,325 shares of company stock valued at $5,584,594. 13.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Getty Images

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Getty Images by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 8,131,734 shares of the company’s stock worth $42,692,000 after purchasing an additional 34,013 shares during the period. EULAV Asset Management boosted its holdings in shares of Getty Images by 37.5% during the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock worth $3,570,000 after acquiring an additional 150,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Getty Images by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,908 shares of the company’s stock worth $1,244,000 after acquiring an additional 19,311 shares during the period. Marshall Wace LLP boosted its holdings in shares of Getty Images by 45.7% during the second quarter. Marshall Wace LLP now owns 150,324 shares of the company’s stock worth $734,000 after acquiring an additional 47,176 shares during the period. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Getty Images by 124.0% during the third quarter. Wolverine Asset Management LLC now owns 135,961 shares of the company’s stock worth $882,000 after acquiring an additional 75,255 shares during the period. Institutional investors own 45.75% of the company’s stock.

Getty Images Price Performance

Shares of NYSE GETY opened at $3.82 on Wednesday. Getty Images has a fifty-two week low of $3.65 and a fifty-two week high of $8.18. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 95.50 and a beta of 2.12. The business has a 50-day moving average of $4.46 and a 200-day moving average of $4.76.

Getty Images (NYSE:GETY) last posted its quarterly earnings results on Thursday, March 14th. The company reported $0.09 EPS for the quarter. Getty Images had a return on equity of 9.30% and a net margin of 2.11%. The business had revenue of $225.94 million during the quarter, compared to analysts’ expectations of $227.00 million. As a group, sell-side analysts predict that Getty Images will post 0.06 earnings per share for the current fiscal year.

Getty Images Company Profile

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.