Vivid Seats Inc. (NASDAQ:SEAT – Get Free Report) fell 9.5% during trading on Tuesday after Craig Hallum lowered their price target on the stock from $10.00 to $8.00. Craig Hallum currently has a buy rating on the stock. Vivid Seats traded as low as $4.26 and last traded at $4.29. 280,628 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,447,671 shares. The stock had previously closed at $4.74.
Several other brokerages have also recently issued reports on SEAT. DA Davidson reissued a “buy” rating and issued a $6.50 target price on shares of Vivid Seats in a research report on Friday, August 16th. Royal Bank of Canada dropped their target price on 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. Piper Sandler dropped their target price on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Benchmark dropped their target price on Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.50.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its position 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 valued at $45,000 after buying an additional 5,594 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Vivid Seats in the 2nd quarter worth approximately $61,000. Marshall Wace LLP purchased a new position in Vivid Seats in the 2nd quarter worth approximately $67,000. Entropy Technologies LP purchased a new position in Vivid Seats in the 1st quarter worth approximately $101,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings 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 purchasing an additional 14,927 shares in the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.
Vivid Seats Stock Performance
The stock has a fifty day moving average of $4.76 and a 200 day moving average of $5.26. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48.
Vivid Seats (NASDAQ:SEAT – Get Free Report) 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. As a group, equities analysts forecast that Vivid Seats Inc. will post 0.14 earnings per share 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.