Vivid Seats (NASDAQ:SEAT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Vivid Seats (NASDAQ:SEAT) from a sell rating to a hold rating in a research note released on Saturday morning.

Other research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Vivid Seats in a research note on Tuesday, June 9th. Benchmark raised their price objective on Vivid Seats from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $9.00 price objective (up from $8.00) on shares of Vivid Seats in a research note on Wednesday, August 5th. Finally, Morgan Stanley set a $9.25 price objective on Vivid Seats and gave the company an “equal weight” rating in a report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Vivid Seats has an average rating of “Hold” and a consensus price target of $10.21.

Vivid Seats Trading Down 2.5%

SEAT opened at $7.00 on Friday. The company has a fifty day moving average price of $7.39 and a two-hundred day moving average price of $7.21. Vivid Seats has a 1-year low of $5.06 and a 1-year high of $18.73. The company has a market cap of $78.68 million, a P/E ratio of -0.15 and a beta of 1.08.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.28). The company had revenue of $129.86 million for the quarter, compared to the consensus estimate of $122.11 million. Vivid Seats had a negative return on equity of 211.26% and a negative net margin of 60.26%. On average, research analysts forecast that Vivid Seats will post -4.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently made changes to their positions in SEAT. Deutsche Bank AG lifted its position in Vivid Seats by 270.0% in the 4th quarter. Deutsche Bank AG now owns 10,774 shares of the company’s stock valued at $78,000 after acquiring an additional 7,862 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Vivid Seats by 2.7% in the second quarter. First Trust Advisors LP now owns 297,688 shares of the company’s stock valued at $503,000 after purchasing an additional 7,940 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Vivid Seats during the second quarter valued at approximately $68,000. Jain Global LLC purchased a new position in shares of Vivid Seats during the fourth quarter valued at approximately $97,000. Finally, Goldman Sachs Group Inc. grew its holdings in Vivid Seats by 44.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 51,842 shares of the company’s stock worth $374,000 after buying an additional 15,848 shares in the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

About Vivid Seats

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America’s leading ticket marketplaces.