Vivid Seats (NASDAQ:SEAT) Sets New 12-Month Low at $3.48

Vivid Seats Inc. (NASDAQ:SEAT)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $3.48 and last traded at $3.52, with a volume of 112800 shares. The stock had previously closed at $3.58.

Wall Street Analyst Weigh In

SEAT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Craig Hallum lowered 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 note on Tuesday, September 10th. DA Davidson cut their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Citigroup decreased their price objective on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Royal Bank of Canada dropped 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.28.

Vivid Seats Price Performance

The stock has a fifty day moving average of $4.24 and a 200 day moving average of $5.03. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73. The stock has a market cap of $720.55 million, a price-to-earnings ratio of 6.51, a P/E/G ratio of 14.46 and a beta of 1.22.

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

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Vivid Seats in the second quarter valued at approximately $259,000. Clearline Capital LP grew its holdings in shares of Vivid Seats by 105.6% during the second quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock worth $4,432,000 after buying an additional 395,942 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Vivid Seats by 57.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,898 shares of the company’s stock worth $178,000 after buying an additional 11,274 shares in the last quarter. AQR Capital Management LLC raised its holdings in Vivid Seats by 88.9% in the 2nd quarter. AQR Capital Management LLC now owns 126,114 shares of the company’s stock valued at $725,000 after acquiring an additional 59,352 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Vivid Seats during the 2nd quarter worth approximately $67,000. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.