Vivid Seats (NASDAQ:SEAT) Reaches New 1-Year Low at $3.58

Vivid Seats Inc. (NASDAQ:SEAT)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $3.58 and last traded at $3.58, with a volume of 1275782 shares trading hands. The stock had previously closed at $3.66.

Analysts Set New Price Targets

SEAT has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Canaccord Genuity Group decreased their price target on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft decreased their price target on Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Benchmark decreased their price target on Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada decreased their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.28.

Vivid Seats Stock Up 0.3 %

The business has a fifty day moving average price of $4.33 and a two-hundred day moving average price of $5.08. 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 firm has a market capitalization of $745.47 million, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 14.46 and a beta of 1.22.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data 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). The firm had revenue of $198.32 million during the quarter, compared to analyst estimates 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 company posted $0.20 earnings per share. On average, equities analysts expect that Vivid Seats Inc. will post 0.14 earnings per share for the current year.

Institutional Trading of Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in Vivid Seats during the second quarter worth about $259,000. Clearline Capital LP grew its holdings in Vivid Seats by 105.6% in 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. The Manufacturers Life Insurance Company grew its holdings in Vivid Seats by 57.5% in the second 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 period. AQR Capital Management LLC grew its holdings in Vivid Seats by 88.9% in the second quarter. AQR Capital Management LLC now owns 126,114 shares of the company’s stock valued at $725,000 after purchasing an additional 59,352 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Vivid Seats in the second quarter valued at approximately $67,000. 39.92% of the stock is owned by institutional investors and hedge funds.

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.