Vivid Seats Inc. (NASDAQ:SEAT) Receives $6.63 Average PT from Brokerages

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.63.

A number of brokerages recently commented on SEAT. Deutsche Bank Aktiengesellschaft dropped their price target on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Benchmark dropped their price target on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada decreased their price objective on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Bank of America reiterated a “buy” rating and issued a $6.25 price objective on shares of Vivid Seats in a report on Tuesday, December 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Vivid Seats in a report on Friday, November 8th.

Vivid Seats Trading Down 2.8 %

Shares of SEAT stock opened at $4.24 on Friday. The stock has a fifty day moving average of $4.03 and a 200 day moving average of $4.13. Vivid Seats has a 52 week low of $3.24 and a 52 week high of $6.41. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. The company had revenue of $186.61 million during the quarter, compared to analyst estimates of $186.61 million. During the same quarter last year, the firm posted $0.07 earnings per share. As a group, research analysts predict that Vivid Seats will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors have recently made changes to their positions in the company. Emeth Value Capital LLC bought a new position in Vivid Seats in the 4th quarter valued at approximately $23,250,000. Harbor Capital Advisors Inc. lifted its position in Vivid Seats by 180.0% during the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after purchasing an additional 1,680,327 shares during the period. Clearline Capital LP lifted its position in Vivid Seats by 105.6% during the second quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock valued at $4,432,000 after purchasing an additional 395,942 shares during the period. Geode Capital Management LLC lifted its position in Vivid Seats by 18.9% during the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock valued at $7,309,000 after purchasing an additional 314,482 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Vivid Seats by 183.4% during the second quarter. Renaissance Technologies LLC now owns 324,228 shares of the company’s stock valued at $1,864,000 after purchasing an additional 209,828 shares during the period. Hedge funds and other institutional investors own 39.92% of the company’s stock.

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.