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

Vivid Seats Inc. (NASDAQ:SEAT) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $21.8750.

A number of research analysts recently weighed in on SEAT shares. Citigroup dropped their price target on Vivid Seats from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, November 17th. Morgan Stanley set a $9.00 price objective on Vivid Seats in a report on Thursday. Benchmark reiterated a “buy” rating and issued a $18.00 target price (down from $26.00) on shares of Vivid Seats in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vivid Seats in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group decreased their price target on shares of Vivid Seats from $23.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, November 7th.

Vivid Seats Stock Down 5.1%

Vivid Seats stock opened at $6.19 on Monday. The company has a market capitalization of $66.42 million, a PE ratio of 2.30 and a beta of 0.90. Vivid Seats has a 12-month low of $6.17 and a 12-month high of $100.00. The firm’s fifty day moving average is $9.51 and its 200 day moving average is $19.81. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 1.41.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.23). Vivid Seats had a negative net margin of 24.08% and a positive return on equity of 4.50%. The company had revenue of $136.37 million during the quarter, compared to the consensus estimate of $131.38 million. As a group, sell-side analysts predict that Vivid Seats will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

Institutional investors and hedge funds have recently made changes to their positions in the business. Capstone Financial Advisors Inc. acquired a new position in Vivid Seats during the 2nd quarter valued at about $25,000. Jump Financial LLC bought a new position in shares of Vivid Seats in the second quarter valued at approximately $32,000. Raymond James Financial Inc. bought a new position in shares of Vivid Seats in the second quarter valued at approximately $35,000. Rangeley Capital LLC purchased a new position in shares of Vivid Seats during the second quarter valued at approximately $42,000. Finally, Quantbot Technologies LP bought a new stake in Vivid Seats during the second quarter worth $43,000. 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.