Vivid Seats (NASDAQ:SEAT) Trading Down 2.7%

Shares of Vivid Seats Inc. (NASDAQ:SEAT) were down 2.7% during mid-day trading on Thursday . The stock traded as low as $4.00 and last traded at $4.00. Approximately 317,213 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,454,251 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

SEAT has been the subject of a number of research reports. Benchmark decreased their target price on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Royal Bank of Canada cut their price objective on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Piper Sandler lowered their target price on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. DA Davidson dropped their target price on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Vivid Seats presently has an average rating of “Moderate Buy” and an average target price of $7.06.

Vivid Seats Stock Performance

The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48. The business has a 50 day moving average price of $4.58 and a two-hundred day moving average price of $5.16. The stock has a market cap of $801.54 million, a P/E ratio of 7.20, a price-to-earnings-growth ratio of 15.64 and a beta of 1.22.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS 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 analysts’ expectations of $194.68 million. During the same period in the prior year, the firm posted $0.20 earnings per share. On average, sell-side analysts forecast that Vivid Seats Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its position in Vivid Seats by 301.6% during the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after purchasing an additional 5,594 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Vivid Seats during the second quarter valued at approximately $61,000. Marshall Wace LLP bought a new position in Vivid Seats in the 2nd quarter valued at $67,000. Entropy Technologies LP bought a new position in shares of Vivid Seats in the first quarter worth about $101,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Vivid Seats by 259.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock worth $124,000 after acquiring an additional 14,927 shares in the last quarter. 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.