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

Posted by Defense World Staff on Aug 16th, 2023

Getty Images (NYSE:GETY – Free Report) had its target price reduced by Benchmark from $8.00 to $7.00 in a research note published on Tuesday, Marketbeat reports. Benchmark currently has a buy rating on the stock.

A number of other brokerages have also issued reports on GETY. Imperial Capital assumed coverage on Getty Images in a research note on Friday, April 28th. They issued an in-line rating and a $6.25 price target on the stock. Citigroup decreased their price target on Getty Images from $8.00 to $6.00 and set a buy rating on the stock in a research note on Tuesday. Wedbush lifted their price objective on Getty Images from $6.00 to $7.70 in a research note on Friday, May 12th. Finally, JPMorgan Chase & Co. began coverage on Getty Images in a research note on Monday, May 8th. They issued a neutral rating and a $6.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $6.61.

Check Out Our Latest Research Report on GETY

Getty Images Trading Down 6.6 %

Getty Images stock opened at $4.25 on Tuesday. The stock has a 50-day moving average price of $4.94 and a 200 day moving average price of $5.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.41. Getty Images has a 52 week low of $3.42 and a 52 week high of $36.45.

Insider Buying and Selling

In related news, SVP Cho Mikael sold 22,011 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $4.95, for a total transaction of $108,954.45. Following the transaction, the senior vice president now directly owns 141,963 shares of the company’s stock, valued at approximately $702,716.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Cho Mikael sold 22,011 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $4.95, for a total transaction of $108,954.45. Following the transaction, the senior vice president now directly owns 141,963 shares of the company’s stock, valued at approximately $702,716.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jennifer Leyden sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $5.03, for a total value of $150,900.00. Following the transaction, the chief financial officer now directly owns 335,827 shares in the company, valued at $1,689,209.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,893 shares of company stock valued at $882,574. Corporate insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On Getty Images

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Koch Industries Inc. raised its position in shares of Getty Images by 0.3% in the 2nd quarter. Koch Industries Inc. now owns 80,733,607 shares of the company’s stock valued at $393,980,000 after purchasing an additional 234,354 shares in the last quarter. Carlyle Group Inc. acquired a new position in shares of Getty Images in the 4th quarter valued at approximately $66,061,000. Zazove Associates LLC raised its position in shares of Getty Images by 40.0% in the 1st quarter. Zazove Associates LLC now owns 401,978 shares of the company’s stock valued at $2,046,000 after purchasing an additional 114,757 shares in the last quarter. EULAV Asset Management acquired a new position in shares of Getty Images in the 2nd quarter valued at approximately $1,952,000. Finally, Bank of Montreal Can acquired a new position in shares of Getty Images in the 2nd quarter valued at approximately $2,012,000. 43.55% of the stock is currently owned by hedge funds and other institutional investors.

About Getty Images

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Getty Images, 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.