Vivid Seats (NASDAQ:SEAT) Stock Price Down 4.8% on Analyst Downgrade

Vivid Seats Inc. (NASDAQ:SEAT) dropped 4.8% during trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $4.50 to $4.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Vivid Seats traded as low as $3.92 and last traded at $3.93. Approximately 81,557 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 1,386,498 shares. The stock had previously closed at $4.13.

Several other analysts also recently weighed in on SEAT. Canaccord Genuity Group cut their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. DA Davidson reduced their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Citigroup decreased their target price on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Royal Bank of Canada dropped their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, Maxim Group lowered their price objective on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SEAT. Ameritas Investment Partners Inc. boosted its stake in shares of 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 in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Vivid Seats during the second quarter valued at $61,000. Marshall Wace LLP acquired a new position in shares of Vivid Seats in the 2nd quarter valued at $67,000. Ashton Thomas Securities LLC increased its stake in 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 purchasing an additional 11,655 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Vivid Seats during the 1st quarter worth about $101,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Up 0.5 %

The business’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $4.71. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The firm had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $194.68 million. During the same quarter last year, the company posted $0.20 EPS. Sell-side analysts predict that Vivid Seats Inc. will post 0.14 EPS for the current year.

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.