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

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have been given an average rating of “Hold” by the nine brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.4333.

SEAT has been the topic of several research analyst reports. Morgan Stanley set a $9.25 target price on shares of Vivid Seats and gave the stock an “equal weight” rating in a research report on Wednesday, June 10th. Wall Street Zen upgraded shares of Vivid Seats from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Vivid Seats from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Vivid Seats in a report on Tuesday, June 9th.

Institutional Investors Weigh In On Vivid Seats

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Whetstone Capital Advisors LLC acquired a new stake in shares of Vivid Seats in the 4th quarter worth approximately $595,000. Mariner LLC acquired a new position in Vivid Seats during the fourth quarter worth $232,000. Bridgeway Capital Management LLC acquired a new position in Vivid Seats during the fourth quarter worth $205,000. Price T Rowe Associates Inc. MD purchased a new stake in Vivid Seats during the fourth quarter worth $139,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Vivid Seats in the fourth quarter valued at $135,000. 39.92% of the stock is currently owned by institutional investors and hedge funds.

Vivid Seats Price Performance

SEAT opened at $7.70 on Tuesday. Vivid Seats has a 12 month low of $5.06 and a 12 month high of $35.00. The stock has a market capitalization of $82.93 million, a P/E ratio of -0.11 and a beta of 1.11. The business has a 50 day simple moving average of $7.60 and a 200-day simple moving average of $7.12.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.32). The business had revenue of $125.78 million for the quarter, compared to analyst estimates of $124.55 million. Vivid Seats had a positive return on equity of 68.65% and a negative net margin of 82.25%. Research analysts anticipate that Vivid Seats will post -4.16 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.