Vivid Seats (NASDAQ:SEAT) Shares Down 4.4%

Vivid Seats Inc. (NASDAQ:SEAT)’s share price dropped 4.4% during mid-day trading on Wednesday . The company traded as low as $3.69 and last traded at $3.70. Approximately 219,003 shares changed hands during trading, a decline of 85% from the average daily volume of 1,469,304 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

SEAT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research report on Monday. Royal Bank of Canada reduced 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. Benchmark reissued a “buy” rating and set a $15.00 price objective on shares of Vivid Seats in a research report on Tuesday, July 30th. 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 research report on Wednesday, May 8th. Finally, Piper Sandler dropped their target price on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Vivid Seats has an average rating of “Moderate Buy” and a consensus target price of $8.38.

Vivid Seats Trading Up 8.6 %

The company has a market cap of $894.98 million, a P/E ratio of 7.80, a PEG ratio of 2.84 and a beta of 1.23. The stock’s 50 day moving average is $5.03 and its 200-day moving average is $5.42. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 1.89.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm earned $0.20 EPS. Research analysts anticipate that Vivid Seats Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of SEAT. Parkside Financial Bank & Trust lifted its stake in Vivid Seats by 84.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after acquiring an additional 2,090 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Vivid Seats by 301.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after acquiring an additional 5,594 shares during the period. Principal Financial Group Inc. bought a new position in Vivid Seats during the 2nd quarter valued at about $61,000. SG Americas Securities LLC bought a new position in Vivid Seats during the 4th quarter valued at about $65,000. Finally, Marshall Wace LLP bought a new position in Vivid Seats during the 2nd quarter valued at about $67,000. Institutional investors own 39.92% of the company’s stock.

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.