Vivid Seats (NASDAQ:SEAT) Shares Gap Down – Time to Sell?

Vivid Seats Inc. (NASDAQ:SEAT) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.11, but opened at $3.81. Vivid Seats shares last traded at $3.76, with a volume of 145,833 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. DA Davidson lowered their target price on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Citigroup lowered their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, September 20th. Canaccord Genuity Group dropped their price target on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Piper Sandler restated a “neutral” rating and set a $4.00 price objective (down from $5.00) on shares of Vivid Seats in a research report on Friday. Finally, Craig Hallum lowered their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.78.

Vivid Seats Stock Performance

The firm has a fifty day moving average price of $3.97 and a two-hundred day moving average price of $4.69. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73. The stock has a market capitalization of $743.89 million, a PE ratio of 7.47, a P/E/G ratio of 17.60 and a beta of 1.18.

Vivid Seats (NASDAQ:SEAT) last issued its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The company had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same period in the prior year, the firm posted $0.20 earnings per share. Research analysts expect that Vivid Seats Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

Several large investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in shares of Vivid Seats during the third quarter valued at approximately $87,000. Oppenheimer & Co. Inc. purchased a new position in Vivid Seats during the 3rd quarter worth $37,000. Victory Capital Management Inc. raised its position in Vivid Seats by 120.8% during the 3rd quarter. Victory Capital Management Inc. now owns 95,242 shares of the company’s stock valued at $352,000 after purchasing an additional 52,111 shares in the last quarter. Ashton Thomas Securities LLC lifted its holdings in shares of Vivid Seats by 83.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock worth $95,000 after buying an additional 11,655 shares during the period. Finally, Equitable Trust Co. bought a new position in shares of Vivid Seats during the 3rd quarter worth $444,000. 39.92% of the stock is 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.