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

Vivid Seats Inc. (NASDAQ:SEAT) has been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.8750.

Several equities research analysts have issued reports on SEAT shares. Canaccord Genuity Group dropped their price target on Vivid Seats from $23.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Morgan Stanley set a $9.00 target price on Vivid Seats in a research note on Thursday, December 18th. Citigroup cut their price objective on shares of Vivid Seats from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vivid Seats in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $12.00 price objective on Vivid Seats and gave the company a “sector perform” rating in a research note on Friday, November 7th.

Vivid Seats Trading Up 4.0%

Shares of SEAT opened at $6.51 on Friday. Vivid Seats has a 1-year low of $6.13 and a 1-year high of $98.90. The company has a market capitalization of $69.85 million, a P/E ratio of 2.42 and a beta of 0.90. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.67 and a quick ratio of 0.60. The firm’s 50 day simple moving average is $7.48 and its 200 day simple moving average is $16.09.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings data 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). The company had revenue of $136.37 million for the quarter, compared to analysts’ expectations of $131.38 million. Vivid Seats had a negative net margin of 24.08% and a positive return on equity of 4.50%. Sell-side analysts forecast that Vivid Seats will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

Institutional investors have recently made changes to their positions in the company. Emeth Value Capital LLC boosted its holdings in shares of Vivid Seats by 27.4% during the 2nd quarter. Emeth Value Capital LLC now owns 7,642,042 shares of the company’s stock valued at $12,915,000 after acquiring an additional 1,644,188 shares during the last quarter. Equitable Trust Co. grew its position in Vivid Seats by 6.9% in the 2nd quarter. Equitable Trust Co. now owns 167,060 shares of the company’s stock worth $282,000 after purchasing an additional 10,800 shares during the period. Capstone Financial Advisors Inc. purchased a new stake in Vivid Seats during the 2nd quarter valued at $25,000. Rhumbline Advisers lifted its holdings 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 during the period. Finally, Boston Partners boosted its stake in shares of Vivid Seats by 7.2% in the 2nd quarter. Boston Partners now owns 4,784,292 shares of the company’s stock worth $8,084,000 after buying an additional 322,461 shares during the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Company Profile

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.