Vivid Seats Inc. (NASDAQ:SEAT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $14.2650.

A number of research analysts have commented on SEAT shares. Royal Bank Of Canada reduced their price objective on Vivid Seats from $12.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Friday, March 13th. Bank of America reiterated an “underperform” rating and issued a $5.65 target price on shares of Vivid Seats in a research note on Thursday, March 12th. Morgan Stanley set a $7.00 target price on Vivid Seats and gave the company a “positive” rating in a report on Friday, March 13th. Benchmark reduced their price target on Vivid Seats from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Scotiabank set a $10.00 price target on Vivid Seats in a report on Friday, March 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jump Financial LLC purchased a new stake in Vivid Seats during the 2nd quarter worth $32,000. Raymond James Financial Inc. purchased a new position in Vivid Seats in the 2nd quarter valued at about $35,000. Rangeley Capital LLC purchased a new position in Vivid Seats in the 2nd quarter valued at about $42,000. Quantbot Technologies LP acquired a new stake in shares of Vivid Seats during the second quarter valued at about $43,000. Finally, Deutsche Bank AG grew its stake in shares of Vivid Seats by 270.0% during the fourth 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. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Vivid Seats Price Performance

Vivid Seats stock opened at $5.50 on Wednesday. The firm has a fifty day moving average of $6.46 and a 200-day moving average of $9.02. Vivid Seats has a 52-week low of $5.06 and a 52-week high of $61.20. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $59.24 million, a P/E ratio of -0.08 and a beta of 0.95.

Vivid Seats (NASDAQ:SEAT) last posted its earnings results on Thursday, March 12th. The company reported ($10.39) earnings per share for the quarter, missing the consensus estimate of ($1.81) by ($8.58). Vivid Seats had a negative net margin of 75.21% and a positive return on equity of 31.44%. The business had revenue of $126.81 million for the quarter, compared to analyst estimates of $137.18 million. As a group, analysts predict that Vivid Seats will post 0.12 EPS for the current year.

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.