American Century Companies Inc. Boosts Stock Position in Vivid Seats Inc. (NASDAQ:SEAT)

American Century Companies Inc. raised its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 23.1% in the second quarter, HoldingsChannel reports. The firm owned 55,243 shares of the company’s stock after buying an additional 10,372 shares during the quarter. American Century Companies Inc.’s holdings in Vivid Seats were worth $318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SEAT. Ameritas Investment Partners Inc. lifted 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 worth $45,000 after purchasing an additional 5,594 shares during the period. Principal Financial Group Inc. purchased a new stake in Vivid Seats in the second quarter worth $61,000. Entropy Technologies LP bought a new position in Vivid Seats in the first quarter worth $101,000. 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 worth $124,000 after buying an additional 14,927 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in Vivid Seats during the 1st quarter valued at about $128,000. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Price Performance

Shares of NASDAQ:SEAT opened at $3.36 on Friday. The firm has a fifty day moving average price of $4.24 and a 200 day moving average price of $5.03. Vivid Seats Inc. has a fifty-two week low of $3.36 and a fifty-two week high of $8.80. The firm has a market cap of $697.71 million, a price-to-earnings ratio of 6.73, a P/E/G ratio of 14.46 and a beta of 1.21. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. 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. Craig Hallum decreased their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Citigroup dropped their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Piper Sandler dropped their target price on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.28.

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.