Getty Images Sees Unusually Large Options Volume (NYSE:GETY)
by Scott Moore · The Cerbat GemGetty Images Holdings, Inc. (NYSE:GETY – Get Free Report) was the target of unusually large options trading on Monday. Stock investors bought 10,465 call options on the stock. This is an increase of approximately 839% compared to the typical daily volume of 1,114 call options.
Insiders Place Their Bets
In other Getty Images news, insider Grant Farhall sold 42,022 shares of the stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $0.78, for a total value of $32,777.16. Following the completion of the sale, the insider directly owned 288,190 shares in the company, valued at $224,788.20. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Teaster sold 38,100 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $0.79, for a total value of $30,099.00. Following the completion of the sale, the insider owned 488,862 shares of the company’s stock, valued at $386,200.98. This trade represents a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 429,663 shares of company stock worth $335,518. Corporate insiders own 12.50% of the company’s stock.
Institutional Investors Weigh In On Getty Images
Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Getty Images by 16.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,458 shares of the company’s stock valued at $82,000 after acquiring an additional 6,856 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Getty Images by 12.4% during the third quarter. Alliancebernstein L.P. now owns 80,520 shares of the company’s stock worth $159,000 after acquiring an additional 8,900 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Getty Images by 14.7% during the fourth quarter. Intech Investment Management LLC now owns 71,564 shares of the company’s stock worth $96,000 after acquiring an additional 9,173 shares during the period. Polymer Capital Management US LLC grew its position in shares of Getty Images by 7.9% in the third quarter. Polymer Capital Management US LLC now owns 136,798 shares of the company’s stock valued at $271,000 after purchasing an additional 10,007 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Getty Images by 103.2% in the third quarter. BNP Paribas Financial Markets now owns 21,794 shares of the company’s stock valued at $43,000 after purchasing an additional 11,066 shares during the last quarter. 45.75% of the stock is currently owned by institutional investors and hedge funds.
Getty Images Stock Up 114.0%
Shares of Getty Images stock traded up $0.69 during trading hours on Monday, reaching $1.29. 133,392,208 shares of the company’s stock were exchanged, compared to its average volume of 3,405,723. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.13. The company has a 50 day moving average of $0.86 and a two-hundred day moving average of $1.01. The stock has a market cap of $542.55 million, a P/E ratio of -4.91 and a beta of 2.03. Getty Images has a fifty-two week low of $0.58 and a fifty-two week high of $3.21.
Getty Images (NYSE:GETY – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $226.57 million for the quarter, compared to analyst estimates of $238.90 million. Getty Images had a negative return on equity of 17.01% and a negative net margin of 10.94%. On average, sell-side analysts forecast that Getty Images will post -0.03 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on GETY shares. Weiss Ratings lowered Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Zacks Research raised shares of Getty Images from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup cut their price target on shares of Getty Images from $1.85 to $0.85 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $7.00 price target on shares of Getty Images in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Getty Images presently has an average rating of “Hold” and an average price target of $3.78.
Check Out Our Latest Analysis on GETY
Getty Images Company Profile
Getty Images (NYSE: GETY) is a leading global provider of digital visual content, offering an extensive library of stock photography, editorial imagery, video footage and music. The company supplies creative and rights-managed assets to a broad range of industries, including advertising, media, corporate communications and publishing. Through its online platform and licensing services, Getty Images enables customers to search, license and download multimedia content for commercial and editorial use.
Founded in 1995 by Mark Getty and Jonathan Klein, Getty Images pioneered the aggregation of photographic archives into a centralized, digital marketplace.