Vivid Seats (NASDAQ:SEAT) Releases Earnings Results, Misses Estimates By $0.23 EPS

Vivid Seats (NASDAQ:SEAT) posted its quarterly earnings results on Thursday. The company reported ($1.91) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.23), Zacks reports. Vivid Seats had a positive return on equity of 8.93% and a negative net margin of 20.35%.The company had revenue of $136.37 million during the quarter, compared to the consensus estimate of $131.38 million.

Vivid Seats Price Performance

Shares of SEAT traded down $0.01 during mid-day trading on Friday, reaching $10.55. 146,132 shares of the stock traded hands, compared to its average volume of 112,192. The company has a market cap of $108.71 million, a price-to-earnings ratio of 1.95, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Vivid Seats has a 1 year low of $9.00 and a 1 year high of $100.00. The firm has a fifty day moving average price of $14.32 and a 200 day moving average price of $27.10. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 1.77.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC purchased a new stake in shares of Vivid Seats in the 2nd quarter valued at about $32,000. Raymond James Financial Inc. purchased a new position in Vivid Seats in the 2nd quarter worth approximately $35,000. Rangeley Capital LLC bought a new position in shares of Vivid Seats in the 2nd quarter worth $42,000. Quantbot Technologies LP purchased a new stake in shares of Vivid Seats during the 2nd quarter valued at $43,000. Finally, Rhumbline Advisers raised its position in shares of Vivid Seats by 106.8% during the 2nd quarter. Rhumbline Advisers now owns 203,271 shares of the company’s stock valued at $344,000 after buying an additional 104,972 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SEAT has been the subject of a number of recent research reports. Citigroup downgraded Vivid Seats from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $13.00 in a research report on Thursday, October 23rd. Royal Bank Of Canada set a $12.00 target price on shares of Vivid Seats and gave the stock a “sector perform” rating in a research note on Friday. Craig Hallum set a $2.00 price target on shares of Vivid Seats in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivid Seats in a report on Wednesday, October 8th. Finally, Benchmark reissued a “buy” rating and set a $18.00 target price (down previously from $26.00) on shares of Vivid Seats in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Vivid Seats currently has an average rating of “Hold” and a consensus price target of $36.00.

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.