Vivid Seats (NASDAQ:SEAT) Reaches New 52-Week Low on Disappointing Earnings

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price hit a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $3.89 and last traded at $3.90, with a volume of 1554556 shares changing hands. The stock had previously closed at $4.29.

The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $198.32 million during 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 company posted $0.20 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Tuesday, July 30th. Maxim Group increased their price target on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. DA Davidson reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Vivid Seats in a research report on Friday, June 21st. Canaccord Genuity Group dropped their target price on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Piper Sandler decreased their price target on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Hedge Funds Weigh In On Vivid Seats

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Vivid Seats during the fourth quarter worth approximately $65,000. Raymond James & Associates purchased a new stake in Vivid Seats during the fourth quarter valued at about $172,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Vivid Seats by 129.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,609 shares of the company’s stock valued at $143,000 after buying an additional 12,758 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Vivid Seats by 84.7% during the fourth 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 during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Vivid Seats in the fourth quarter worth about $726,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Performance

The company has a market cap of $799.46 million, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. The business has a 50 day moving average price of $5.21 and a two-hundred day moving average price of $5.52. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.51 and a current ratio of 0.57.

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.