Getty Images (NYSE:GETY) CMO Gene Foca Sells 31,576 Shares

Getty Images Holdings, Inc. (NYSE:GETY) CMO Gene Foca sold 31,576 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $0.78, for a total value of $24,629.28. Following the completion of the transaction, the chief marketing officer owned 507,651 shares of the company’s stock, valued at $395,967.78. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Getty Images Price Performance

NYSE GETY opened at $0.75 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $312.07 million, a price-to-earnings ratio of -1.49 and a beta of 2.13. The business has a 50 day simple moving average of $0.96 and a 200 day simple moving average of $1.45. Getty Images Holdings, Inc. has a 52-week low of $0.67 and a 52-week high of $3.21.

Getty Images (NYSE:GETY) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). The company had revenue of $282.29 million during the quarter, compared to the consensus estimate of $246.17 million. Getty Images had a negative net margin of 21.00% and a negative return on equity of 25.05%. Analysts anticipate that Getty Images Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Getty Images

A number of institutional investors have recently made changes to their positions in GETY. Koch Inc. boosted its holdings in Getty Images by 42.8% during the fourth quarter. Koch Inc. now owns 115,259,246 shares of the company’s stock worth $154,447,000 after purchasing an additional 34,525,639 shares during the last quarter. Readystate Asset Management LP acquired a new stake in Getty Images in the 4th quarter valued at $3,071,000. Millennium Management LLC increased its stake in Getty Images by 160.7% in the 4th quarter. Millennium Management LLC now owns 1,530,821 shares of the company’s stock valued at $2,051,000 after buying an additional 943,567 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Getty Images by 43.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company’s stock worth $4,041,000 after buying an additional 742,008 shares in the last quarter. Finally, Callodine Capital Management LP bought a new stake in Getty Images during the 4th quarter worth about $670,000. Institutional investors own 45.75% of the company’s stock.

Getty Images News Summary

Here are the key news stories impacting Getty Images this week:

• Neutral Sentiment: Recent fundamentals remain weak: Getty missed on EPS in its Mar. 16 quarter (reported ($0.22) vs. $0.03 expected) despite revenue above estimates; the company has negative margins and elevated debt-to-equity. MarketBeat: GETY fundamentals and earnings
• Negative Sentiment: CEO Craig Warren Peters sold 167,403 shares (~$130,574), reducing his stake ~11.5%. SEC Filing – Craig Peters sale
• Negative Sentiment: Grant Farhall sold 42,022 shares (~$32,777), trimming his holding by ~12.7%. SEC Filing – Grant Farhall sale
• Negative Sentiment: CMO Gene Foca and CFO Jennifer Leyden each sold 31,576 shares (~$24,629 each), reducing stakes by ~5.9% and ~9.1% respectively. SEC Filing – Gene Foca sale SEC Filing – Jennifer Leyden sale
• Negative Sentiment: SVPs Kenneth Arrigo Mainardis (29,565 shares) and Peter Orlowsky (22,081 shares) also sold portions of their stakes. SEC Filing – Kenneth Arrigo Mainardis sale SEC Filing – Peter Orlowsky sale
• Negative Sentiment: CTO Nathaniel Gandert sold 21,349 shares (~$16,652). SEC Filing – Nathaniel Gandert sale
• Negative Sentiment: Other insider sales: Cho Mikael (two transactions totaling 26,476 shares), Daine Marc Weston (12,928), and Michael Teaster (6,587). SEC Filings – Cho Mikael sales SEC Filing – Daine Marc Weston sale SEC Filing – Michael Teaster sale

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GETY. Zacks Research lowered shares of Getty Images from a “hold” rating to a “strong sell” rating in a research note on Friday, March 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Getty Images in a research note on Thursday, January 22nd. Finally, Citigroup cut their price target on Getty Images from $1.85 to $0.85 and set a “neutral” rating on the stock in a report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $3.78.

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.