Vivid Seats (NASDAQ:SEAT) Stock Price Down 2.7%

Vivid Seats Inc. (NASDAQ:SEAT) traded down 2.7% on Thursday . The stock traded as low as $4.00 and last traded at $4.00. 317,213 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,454,251 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

SEAT has been the topic of several research analyst reports. Royal Bank of Canada reduced their target price on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Benchmark reduced their price objective on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Craig Hallum dropped their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. DA Davidson reduced their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Piper Sandler lowered their price objective on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.06.

Vivid Seats Stock Performance

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 stock has a market capitalization of $801.54 million, a P/E ratio of 7.20, a PEG ratio of 15.64 and a beta of 1.22. The business has a 50-day moving average price of $4.58 and a 200 day moving average price of $5.16.

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

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEAT. Ameritas Investment Partners Inc. raised its stake in shares of Vivid Seats by 301.6% in the first 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 during the last quarter. Rhumbline Advisers increased its holdings in Vivid Seats by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after buying an additional 7,961 shares in the last quarter. American Century Companies Inc. raised its position 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 buying an additional 10,372 shares during the last quarter. Principal Financial Group Inc. bought a new position in Vivid Seats during the 2nd quarter valued at about $61,000. Finally, California State Teachers Retirement System lifted its stake in Vivid Seats by 19.8% during the 1st quarter. California State Teachers Retirement System now owns 67,612 shares of the company’s stock valued at $405,000 after acquiring an additional 11,188 shares during the period. 39.92% of the stock is owned by institutional investors.

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.