Vivid Seats (NASDAQ:SEAT) Shares Down 4.8% Following Analyst Downgrade

Vivid Seats Inc. (NASDAQ:SEAT) dropped 4.8% during trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $4.50 to $4.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Vivid Seats traded as low as $3.92 and last traded at $3.93. Approximately 81,557 shares were traded during trading, a decline of 94% from the average daily volume of 1,386,498 shares. The stock had previously closed at $4.13.

A number of other research analysts have also recently weighed in on SEAT. Citigroup cut their price objective on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, September 20th. DA Davidson cut their price target on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Piper Sandler lowered their price target 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. Craig Hallum dropped their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Finally, Benchmark reduced their target price on Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.11.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds have recently made changes to their positions in SEAT. Harbor Capital Advisors Inc. raised its stake in Vivid Seats by 180.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after purchasing an additional 1,680,327 shares during the last quarter. Invenomic Capital Management LP raised its position in shares of Vivid Seats by 289.4% in the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after buying an additional 1,143,870 shares during the last quarter. Anson Funds Management LP lifted its stake in shares of Vivid Seats by 66.5% in the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after buying an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new position in Vivid Seats during the first quarter worth about $5,690,000. Finally, Vanguard Group Inc. grew its stake in Vivid Seats by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after acquiring an additional 410,243 shares in the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

Vivid Seats Stock Performance

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 stock’s fifty day simple moving average is $4.03 and its 200 day simple moving average is $4.73. The company has a market cap of $830.25 million, a price-to-earnings ratio of 7.40, a P/E/G ratio of 16.55 and a beta of 1.18.

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

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.