Vivid Seats (NASDAQ:SEAT) Stock Price Down 3.3%

Vivid Seats Inc. (NASDAQ:SEAT)’s share price was down 3.3% during mid-day trading on Wednesday . The company traded as low as $4.39 and last traded at $4.40. Approximately 501,055 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,492,049 shares. The stock had previously closed at $4.55.

Analyst Ratings Changes

Several analysts have recently issued reports on SEAT shares. Piper Sandler lowered their price objective on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Benchmark reissued a “buy” rating and set a $15.00 price objective on shares of Vivid Seats in a report on Tuesday, July 30th. Finally, Maxim Group upped their target price on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.38.

Vivid Seats Stock Up 7.1 %

The stock’s fifty day simple moving average is $4.94 and its two-hundred day simple moving average is $5.37. 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 company has a market capitalization of $975.96 million, a price-to-earnings ratio of 8.27, a PEG ratio of 2.84 and a beta of 1.23.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.08). The business had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. During the same quarter last year, the company earned $0.20 EPS. On average, sell-side analysts predict that Vivid Seats Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently modified their holdings of SEAT. Parkside Financial Bank & Trust grew its holdings in Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock worth $29,000 after buying an additional 2,090 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Vivid Seats by 301.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after acquiring an additional 5,594 shares during the period. Rhumbline Advisers grew its stake in shares of Vivid Seats by 9.3% in the second quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after purchasing an additional 7,961 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Vivid Seats by 23.1% during the second quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock valued at $318,000 after purchasing an additional 10,372 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Vivid Seats during the second quarter valued at about $61,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.