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Weston Daine Marc, Senior Vice President of Ecommerce at Getty Images Holdings, Inc. (NYSE:GETY), recently sold 883 shares of the company’s Class A common stock. The shares were sold at an average price of $2.01, totaling $1,774. Following this transaction, Marc holds 101,866 shares in the company. The sale comes as Getty Images, currently valued at $874 million, trades near its 52-week low of $1.90, having declined about 56% over the past year. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
The sale was conducted to cover mandatory tax withholding obligations related to the vesting and settlement of restricted stock units. This transaction was carried out under a pre-established Rule 10b5-1 trading plan, which provides executives with a way to sell shares at predetermined times to avoid potential conflicts of interest. Despite recent price volatility, InvestingPro data shows Getty maintains a "Fair" overall financial health score, with 10+ additional exclusive insights available to subscribers.
The shares were sold in multiple trades, with prices ranging from $1.98 to $2.04. Marc has committed to providing full details of the transactions upon request to the SEC, the company, or its shareholders. With the company maintaining a solid 73% gross profit margin and analysts forecasting profitability this year, investors can access detailed valuation metrics and comprehensive analysis through Getty’s Pro Research Report on InvestingPro.
In other recent news, Getty Images has announced its preliminary financial results for the fourth quarter, projecting revenue between $244 million and $250 million. The company also expects full-year revenue to range from $936 million to $942 million, aligning with or exceeding previous guidance. Additionally, Getty Images is working on refinancing its $1.05 billion debt, aiming to amend its current credit agreement to extend loan maturities. The refinancing plans are part of a collaboration with Abe Investment, focusing on replacing existing term loan facilities with new ones.
In another development, Getty Images has renewed its partnership with UEFA, continuing its role as the official photographic agency for various high-profile tournaments. This multi-year agreement will include coverage of the UEFA Champions League and the UEFA Women’s EURO 2025. Furthermore, Getty Images is set to merge with Shutterstock (NYSE:SSTK), a move described as a "merger of equals," with Getty holding a 55% stake in the combined entity. Benchmark analysts have maintained a Buy rating on Getty Images stock with a $6.00 price target, while Macquarie analysts have reiterated a Neutral rating with a $3.75 price target following the merger announcement. The merger is anticipated to bring cost synergies and improve EBITDA margins, although concerns about revenue synergies and regulatory implications remain.
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