Getty Images Holdings, Inc. (NYSE:GETY – Get Rating)’s share price gapped down prior to trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $8.00 to $7.00. The stock had previously closed at 6.97, but opened at 6.62. The Goldman Sachs Group currently has a neutral rating on the stock. Getty Images shares last traded at 6.11, with a volume of 21,211 shares trading hands.
A number of other equities research analysts have also issued reports on the company. Macquarie assumed coverage on Getty Images in a research report on Tuesday, September 20th. They issued a “neutral” rating and a $8.25 price target on the stock. Redburn Partners assumed coverage on Getty Images in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Benchmark raised Getty Images from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Tuesday, October 11th. Finally, 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of 8.06.
Insider Activity
In other news, major shareholder Neuberger Berman Group Llc sold 1,044,457 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of 9.27, for a total value of 9,682,116.39. Following the transaction, the insider now owns 64,733,541 shares in the company, valued at approximately 600,079,925.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 4,678,077 shares of company stock worth $117,506,870. 0.11% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in GETY. Tower Research Capital LLC TRC purchased a new position in Getty Images during the 3rd quarter worth approximately $28,000. Ergoteles LLC purchased a new position in Getty Images during the 3rd quarter worth approximately $80,000. Victory Capital Management Inc. purchased a new position in Getty Images during the 3rd quarter worth approximately $96,000. Finally, Verition Fund Management LLC purchased a new position in Getty Images during the 3rd quarter worth approximately $110,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.
Getty Images Stock Down 12.9 %
The business has a 50 day moving average of 7.27.
Getty Images (NYSE:GETY – Get Rating) last announced its earnings results on Friday, August 12th. The company reported 0.29 earnings per share for the quarter.
Getty Images Company Profile
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.