Crispr Therapeutics shares tumble after significant earnings miss
Chris Hoel, the Chief Accounting Officer of Getty Images Holdings, Inc. (NYSE:GETY), has sold 670 shares of the company’s Class A common stock. The shares were sold at an average price of $2.01 each, amounting to a total transaction value of $1,346. The transaction comes as Getty Images, currently trading near its 52-week low of $1.90, has seen its stock decline by approximately 56% over the past year. According to InvestingPro analysis, the company appears undervalued at current levels. Following this sale, Hoel retains ownership of 64,577 shares. The transaction was part of a non-discretionary plan to cover tax withholding obligations related to the vesting of restricted stock units, as per a pre-established Rule 10b5-1 trading plan. Despite recent price volatility, Getty Images maintains a healthy gross profit margin of 73% and is expected to remain profitable this year. Discover more insights and 8 additional ProTips for GETY with an InvestingPro subscription.
In other recent news, Getty Images announced its preliminary fourth-quarter revenue for the year, projecting figures between $244 million and $250 million. The company’s full-year revenue is estimated to be between $936 million and $942 million, slightly adjusting its previous forecast. Getty Images is also undertaking a significant refinancing effort, aiming to replace existing term loan facilities with new ones up to $1.05 billion. This move seeks to extend the maturity of its loans, originally due in 2026. Additionally, Getty Images renewed its partnership with UEFA, continuing its role as the official photographic agency for major UEFA competitions. This agreement covers events like the UEFA Champions League and the upcoming UEFA Women’s EURO 2025. In the investment sphere, Benchmark analysts maintained a Buy rating for Getty Images, while Macquarie reiterated a Neutral rating following the merger announcement with Shutterstock (NYSE:SSTK). The merger is expected to bring cost synergies and debt reduction, although analysts remain cautious about potential revenue synergies. The merger, described as a "merger of equals," is anticipated to finalize in the second half of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.