Vivid Seats (NASDAQ:SEAT) Stock Rating Reaffirmed by Benchmark

Vivid Seats (NASDAQ:SEAT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $15.00 price objective on the stock. Benchmark’s price objective suggests a potential upside of 207.38% from the company’s current price.

A number of other research firms also recently issued reports on SEAT. Maxim Group boosted their price objective on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Canaccord Genuity Group cut their price objective on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, DA Davidson reissued a “buy” rating and issued a $7.00 price objective on shares of Vivid Seats in a report on Friday, June 21st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Vivid Seats presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.85.

Vivid Seats Stock Performance

Shares of SEAT stock opened at $4.88 on Tuesday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 3.06 and a beta of 1.22. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.51 and a current ratio of 0.57. The company has a 50-day simple moving average of $5.27 and a 200 day simple moving average of $5.56. Vivid Seats has a 52 week low of $4.70 and a 52 week high of $8.80.

Vivid Seats (NASDAQ:SEAT) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $190.85 million for the quarter, compared to the consensus estimate of $181.56 million. Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. On average, sell-side analysts predict that Vivid Seats will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently made changes to their positions in SEAT. Parkside Financial Bank & Trust raised its position in shares of Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after buying an additional 2,090 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in 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 purchasing an additional 5,594 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Vivid Seats during the 2nd quarter worth approximately $61,000. SG Americas Securities LLC acquired a new position in Vivid Seats during the 4th quarter worth approximately $65,000. Finally, Tower Research Capital LLC TRC increased its position in Vivid Seats by 417.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock worth $71,000 after purchasing an additional 9,121 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.