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

Vivid Seats Inc. (NASDAQ:SEAT)’s share price 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 traded.

Wall Street Analyst Weigh In

SEAT has been the topic of a number of recent research reports. Canaccord Genuity Group cut their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Citigroup decreased their price objective 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. DA Davidson lowered their target price on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Maxim Group decreased their price target on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday. Finally, Piper Sandler lowered 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.11.

Vivid Seats Price Performance

The company’s 50-day simple moving average is $4.01 and its 200-day simple moving average is $4.71. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The company has a market capitalization of $788.62 million, a PE ratio of 7.25, a P/E/G ratio of 16.22 and a beta of 1.18.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The company had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. During the same period in the prior year, the company earned $0.20 earnings per share. As a group, sell-side analysts anticipate that Vivid Seats Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Vivid Seats

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised its position in Vivid Seats by 180.0% during the 3rd 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 last quarter. Invenomic Capital Management LP lifted its holdings in Vivid Seats by 289.4% in the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after acquiring an additional 1,143,870 shares during the period. Anson Funds Management LP boosted its position in shares of Vivid Seats by 66.5% during the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after purchasing an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new position in shares of Vivid Seats during the 1st quarter worth $5,690,000. Finally, Vanguard Group Inc. grew its stake in shares of Vivid Seats by 10.4% during 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. 39.92% of the stock is 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.