Vivid Seats (NASDAQ:SEAT) Shares Down 4.4%

Shares of Vivid Seats Inc. (NASDAQ:SEAT) were down 4.4% during trading on Wednesday . The stock traded as low as $3.69 and last traded at $3.70. Approximately 219,003 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,469,304 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

Several analysts recently commented on SEAT shares. Royal Bank of Canada decreased their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a research report on Tuesday, July 30th. Piper Sandler cut their price objective on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Maxim Group lifted their price objective on Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vivid Seats currently has a consensus rating of “Moderate Buy” and an average target price of $8.38.

Vivid Seats Trading Up 8.6 %

The company has a market cap of $894.98 million, a P/E ratio of 7.80, a P/E/G ratio of 2.84 and a beta of 1.23. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 1.89. The business has a 50-day moving average price of $5.03 and a two-hundred day moving average price of $5.42.

Vivid Seats (NASDAQ:SEAT) last released its earnings results 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 for the quarter, compared to the consensus estimate of $194.68 million. Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, analysts predict that Vivid Seats Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEAT. SG Americas Securities LLC bought a new stake in Vivid Seats in the fourth quarter valued at about $65,000. Raymond James & Associates bought a new stake in Vivid Seats in the fourth quarter valued at about $172,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Vivid Seats by 129.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,609 shares of the company’s stock valued at $143,000 after purchasing an additional 12,758 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Vivid Seats by 84.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after purchasing an additional 2,090 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new stake in Vivid Seats in the fourth quarter valued at about $726,000. Institutional investors own 39.92% of the company’s stock.

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.