Vivid Seats (NASDAQ:SEAT) Shares Down 4.3% – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT) shares dropped 4.3% during mid-day trading on Wednesday . The company traded as low as $4.31 and last traded at $4.35. Approximately 159,085 shares were traded during trading, a decline of 85% from the average daily volume of 1,058,542 shares. The stock had previously closed at $4.54.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Benchmark decreased their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 8th. Bank of America reaffirmed a “buy” rating and issued a $6.25 price objective on shares of Vivid Seats in a research report on Tuesday, December 31st. Maxim Group lowered their target price on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler restated a “neutral” rating and issued a $4.00 price target (down from $5.00) on shares of Vivid Seats in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

Vivid Seats Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The firm has a fifty day simple moving average of $4.03 and a 200-day simple moving average of $4.13.

Vivid Seats (NASDAQ:SEAT) last posted its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Vivid Seats had a net margin of 4.56% and a return on equity of 21.29%. The company had revenue of $186.61 million during the quarter, compared to analysts’ expectations of $186.61 million. During the same quarter last year, the company posted $0.07 EPS. On average, sell-side analysts forecast that Vivid Seats Inc. will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Vivid Seats by 8.5% during the 4th quarter. SG Americas Securities LLC now owns 37,065 shares of the company’s stock worth $172,000 after purchasing an additional 2,909 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Vivid Seats by 3.8% during the third quarter. Exchange Traded Concepts LLC now owns 99,568 shares of the company’s stock worth $368,000 after buying an additional 3,676 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Vivid Seats during the third quarter worth $37,000. Stratos Wealth Partners LTD. bought a new position in Vivid Seats during the fourth quarter worth about $46,000. Finally, American Century Companies Inc. raised its stake in Vivid Seats by 23.1% in the 2nd quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock worth $318,000 after purchasing an additional 10,372 shares in the last quarter. Institutional investors own 39.92% of the company’s stock.

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.