Vivid Seats (NASDAQ:SEAT) Shares Down 6.4%

Vivid Seats Inc. (NASDAQ:SEAT) shares fell 6.4% during trading on Monday . The company traded as low as $5.34 and last traded at $5.38. 965,358 shares changed hands during trading, a decline of 33% from the average session volume of 1,448,553 shares. The stock had previously closed at $5.75.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SEAT shares. DA Davidson reissued a “buy” rating and set a $7.00 target price on shares of Vivid Seats in a research report on Friday, June 21st. Royal Bank of Canada lowered their price objective on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 6th. Maxim Group raised their target price on Vivid Seats from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Benchmark reissued a “buy” rating and issued a $15.00 price target on shares of Vivid Seats in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group reduced their price objective on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Vivid Seats presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.86.

Vivid Seats Trading Down 7.7 %

The company has a debt-to-equity ratio of 1.89, a current ratio of 0.57 and a quick ratio of 0.51. The stock’s 50-day simple moving average is $5.34 and its 200 day simple moving average is $5.72.

Vivid Seats (NASDAQ:SEAT) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. The business had revenue of $190.85 million during the quarter, compared to analyst estimates of $181.56 million. Research analysts predict that Vivid Seats Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust boosted its stake in shares of Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after purchasing an additional 2,090 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Vivid Seats by 301.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after purchasing an additional 5,594 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Vivid Seats during the fourth quarter worth $65,000. Tower Research Capital LLC TRC increased its holdings in Vivid Seats by 417.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock valued at $71,000 after purchasing an additional 9,121 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in Vivid Seats in the third quarter valued at about $84,000. 39.92% of the stock is owned by institutional investors.

Vivid Seats Company Profile

Vivid Seats Inc operates an online ticket marketplace in the United States, Canada, and Japan. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for sports, concerts, theater events, and other live events.