On September 30, 2023, Getty Images (NYSE:GETY) saw its price target raised by Benchmark analysts from $7.00 to $8.00, according to a research note released on Friday, as reported by FlyOnTheWall. The updated price objective from Benchmark suggests a potential increase of 26.78% from the company’s previous closing price.
Shares of NYSE:GETY started trading at $6.31 on Friday. The company maintains a debt-to-equity ratio of 2.34 and both a quick ratio and current ratio of 0.89 each. With a market capitalization of $2.52 billion and a PE ratio of -11.07, Getty Images has been exhibiting a beta of 2.48 in recent times. Furthermore, the stock has shown a fifty-day moving average of $5.03 and a two-hundred-day moving average of $5.27, while recording a one-year low of $3.42 and a one-year high of $8.22.
As an award-winning creator and distributor of still imagery, video, music, and multimedia products, Getty Images Holdings Inc is committed to delivering other forms of premium digital content as well, including music services. Its extensive collection features work from renowned photographers whose imagery is showcased daily in influential newspapers, magazines, advertising campaigns, films, television programs, and books.
Overall, the positive adjustment in Getty Images’ price target reflects the confidence expressed by Benchmark analysts in the company’s potential growth prospects going forward.
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Getty Images Holdings Inc: Uncertain Future Amidst Analyst Ratings, Insider Trading, and Institutional Investor Activities
In the world of equities, analysts have been deeply considering the fate of Getty Images Holdings, Inc (GETY). With a multitude of ratings and price targets being discussed, there is certainly a sense of perplexity surrounding the company’s future. Macquarie, for instance, recently revised their price target on GETY from $7.00 to $5.00 and assigned a “neutral” rating to the stock in a research note dated August 16th, 2023. Similarly, Imperial Capital raised its rating for Getty Images from “in-line” to “outperform” and set a price objective of $5.75 per share in an analysis published on August 15th. Citigroup also chimed in by lowering their target price from $8.00 to $6.00 but maintained their “buy” rating for the stock in a report published on the same day.
Adding to this mix of uncertainty, Wedbush reiterated its “outperform” rating and set a price target of $7.70 per share on August 15th, according to Bloomberg.com data. Although three equities research analysts have rated GETY as a hold and five have classified it as a buy, Bloomberg’s consensus rating stands at “Moderate Buy,” with an anticipated average price target of $6.27.
Despite this tumultuous outlook, Getty Images Holdings continues to operate as a prominent creator and distributor of various digital content forms such as award-winning still imagery, video, music, and multimedia products. The company’s contributions are widely recognized and frequently featured in renowned newspapers, magazines, advertising campaigns, films, television programs, and books.
However, recent insider trading activity raises eyebrows amidst these forecasts. Gene Foca, Chief Marketing Officer at Getty Images Holdings Inc., sold 200,000 shares on September 19th for an average price of $7.14 per share – resulting in total proceeds amounting to $1,428,000. Following this transaction, Foca now possesses 335,956 shares of the company’s stock, valued at approximately $2,398,725.84. Furthermore, CEO Craig Warren Peters sold 47,450 shares of Getty Images stock on September 20th at an average price of $6.53 per share. As a result, Peters now holds 1,074,935 shares with an approximate worth of $7,019,325.55.
It is worth noting that these insider transactions were duly disclosed in security filings submitted to the Securities & Exchange Commission (SEC). Individuals interested in reviewing these documents may consult the SEC website for further details and access.
Adding to concerns about investor sentiment surrounding Getty Images Holdings Inc., over the past three months alone insiders have collectively sold 469,638 shares of company stock valued at a staggering $3,006,585. This notable level of insider selling constitutes approximately 13% ownership by such individuals.
Institutional investors have also been partaking in recent buying and selling activities concerning GETY shares. Tower Research Capital LLC TRC entered the scene by acquiring a new position during the third quarter valued around $28,000 followed by UBS Group AG making a similar move during the first quarter also amounting to approximately $28,000. Victory Capital Management Inc., on the other hand raised its position by 60.3% during the fourth quarter and currently owns 22,644 shares of GETY stock valued at $144k after purchasing an additional 8,519 shares during that period.
Lazard Asset Management LLC secured a new stake in Getty Images during the second quarter with an investment worth $41k while Ergoteles LLC boosted its holdings by 33.3%, now owning 39,325 shares valued at around $192k after purchasing an additional 9,825 shares during that period.
Overall institutional investors have shown a strong interest in acquiring and disposing of GETY shares, accounting for approximately 43.17% of the stock’s current ownership.
Given the combination of uncertainties surrounding analyst ratings, insider trading, and institutional investor activities, the future trajectory of Getty Images Holdings Inc remains baffling. The company’s role as a key player in providing premium digital content seems intact despite these challenges. However, discerning investors should carefully consider these factors before deciding on their own course of action regarding GETY shares.
