Vivid Seats (NASDAQ:SEAT) Reaches New 12-Month Low at $3.58

Vivid Seats Inc. (NASDAQ:SEAT) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.58 and last traded at $3.58, with a volume of 1275782 shares traded. The stock had previously closed at $3.66.

Wall Street Analyst Weigh In

SEAT has been the subject of several analyst reports. Citigroup cut their target price on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Benchmark cut their price objective on Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Craig Hallum lowered their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Canaccord Genuity Group dropped their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vivid Seats currently has an average rating of “Moderate Buy” and an average price target of $7.28.

Vivid Seats Stock Performance

The stock has a market cap of $743.39 million, a price-to-earnings ratio of 6.56, a P/E/G ratio of 14.46 and a beta of 1.22. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48. The firm has a fifty day simple moving average of $4.40 and a 200-day simple moving average of $5.10.

Vivid Seats (NASDAQ:SEAT) last released its 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). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The business had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Analysts forecast that Vivid Seats Inc. will post 0.14 EPS for the current fiscal year.

Institutional Trading of Vivid Seats

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position in shares of Vivid Seats by 301.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after buying an additional 5,594 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Vivid Seats in the second quarter worth about $61,000. Marshall Wace LLP acquired a new stake in shares of Vivid Seats during the second quarter worth about $67,000. Entropy Technologies LP bought a new position in shares of Vivid Seats during the 1st quarter valued at about $101,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Vivid Seats by 259.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock valued at $124,000 after purchasing an additional 14,927 shares during the period. 39.92% of the stock is owned by institutional investors.

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.