Vivid Seats (NASDAQ:SEAT) Stock Price Down 2.7%

Vivid Seats Inc. (NASDAQ:SEAT) shares dropped 2.7% during mid-day trading on Thursday . The stock traded as low as $4.00 and last traded at $4.00. Approximately 317,213 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,454,251 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

SEAT has been the topic of several research analyst reports. Canaccord Genuity Group reduced their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Benchmark reduced their price objective on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Piper Sandler reduced their price objective on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Citigroup reduced their price objective on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday. Finally, Royal Bank of Canada reduced their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Vivid Seats currently has a consensus rating of “Moderate Buy” and an average price target of $7.28.

Vivid Seats Price Performance

The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73. The company has a market capitalization of $766.24 million, a PE ratio of 7.60, a price-to-earnings-growth ratio of 15.64 and a beta of 1.22. The stock’s 50 day simple moving average is $4.51 and its 200-day simple moving average is $5.14.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. The business had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. During the same quarter last year, the company earned $0.20 earnings per share. As a group, equities analysts forecast that Vivid Seats Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently made changes to their positions in SEAT. Clearbridge Investments LLC acquired a new position in shares of Vivid Seats during the fourth quarter worth about $10,815,000. Invenomic Capital Management LP grew its position in shares of Vivid Seats by 289.4% during the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock worth $9,220,000 after buying an additional 1,143,870 shares in the last quarter. Anson Funds Management LP grew its position in shares of Vivid Seats by 66.5% during the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after buying an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new position in shares of Vivid Seats during the first quarter worth about $5,690,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of Vivid Seats by 618.0% during the second quarter. Harbor Capital Advisors Inc. now owns 933,292 shares of the company’s stock worth $5,366,000 after buying an additional 803,300 shares in the last quarter. 39.92% of the stock is owned by institutional investors and hedge funds.

Vivid Seats Company Profile

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.