Vivid Seats Inc. (NASDAQ:SEAT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.28.

A number of research firms recently issued reports on SEAT. Royal Bank of Canada dropped their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Piper Sandler decreased their price target on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. DA Davidson cut their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Canaccord Genuity Group decreased their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th.

Vivid Seats Trading Down 3.4 %

Shares of Vivid Seats stock opened at $3.66 on Friday. The firm has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $5.10. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. Vivid Seats has a fifty-two week low of $3.58 and a fifty-two week high of $8.80. The company has a market cap of $760.01 million, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 14.46 and a beta of 1.22.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. The business had revenue of $198.32 million during the quarter, compared to analyst estimates of $194.68 million. During the same period in the previous year, the company posted $0.20 EPS. As a group, equities analysts predict that Vivid Seats will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

Several large investors have recently added to or reduced their stakes in SEAT. Sanctuary Advisors LLC purchased a new position in shares of Vivid Seats during the 2nd quarter worth $259,000. Clearline Capital LP raised its stake in Vivid Seats by 105.6% during the second quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock worth $4,432,000 after purchasing an additional 395,942 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Vivid Seats by 57.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,898 shares of the company’s stock valued at $178,000 after purchasing an additional 11,274 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Vivid Seats by 88.9% in the 2nd quarter. AQR Capital Management LLC now owns 126,114 shares of the company’s stock valued at $725,000 after buying an additional 59,352 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Vivid Seats during the 2nd quarter worth approximately $67,000. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

About Vivid Seats

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.