Vivid Seats (NASDAQ:SEAT) Shares Gap Down – Should You Sell?

Shares of Vivid Seats Inc. (NASDAQ:SEAT) gapped down before the market opened on Thursday . The stock had previously closed at $4.11, but opened at $3.81. Vivid Seats shares last traded at $3.76, with a volume of 145,833 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on SEAT shares. Benchmark dropped their price objective 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. Royal Bank of Canada decreased their price objective 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. DA Davidson lowered their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Citigroup cut 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. Finally, Canaccord Genuity Group lowered their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vivid Seats has an average rating of “Moderate Buy” and an average price target of $7.11.

Vivid Seats Stock Performance

The stock has a market cap of $788.62 million, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 16.22 and a beta of 1.18. 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 stock’s 50-day moving average is $4.01 and its 200-day moving average is $4.71.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly 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 business had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. During the same period in the prior year, the company earned $0.20 EPS. Analysts anticipate that Vivid Seats Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Large investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Vivid Seats by 1.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,371,128 shares of the company’s stock valued at $25,134,000 after buying an additional 77,983 shares during the period. Vanguard Group Inc. raised its holdings in shares of Vivid Seats by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after purchasing an additional 410,243 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Vivid Seats by 10.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock valued at $17,849,000 after purchasing an additional 273,734 shares in the last quarter. Anson Funds Management LP lifted its position in Vivid Seats by 66.5% during the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after buying an additional 1,076,271 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Vivid Seats by 180.0% during the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after buying an additional 1,680,327 shares during the period. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

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.