Vivid Seats (NASDAQ:SEAT) Stock Price Up 5.6% – Should You Buy?

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price rose 5.6% during mid-day trading on Wednesday . The stock traded as high as $3.79 and last traded at $3.77. Approximately 347,907 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,445,545 shares. The stock had previously closed at $3.57.

Wall Street Analysts Forecast Growth

SEAT has been the subject of several recent analyst reports. DA Davidson decreased their price target on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft decreased their price target on Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada cut their price objective on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Canaccord Genuity Group lowered their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Piper Sandler cut their price target on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.28.

Vivid Seats Price Performance

The stock has a 50 day moving average of $4.13 and a two-hundred day moving average of $4.97. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The stock has a market cap of $772.47 million, a PE ratio of 6.11, a PEG ratio of 14.46 and a beta of 1.21.

Vivid Seats (NASDAQ:SEAT) last released 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 net margin of 4.73% and a return on equity of 57.44%. The firm had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. During the same quarter in the prior year, the firm earned $0.20 EPS. Equities analysts anticipate that Vivid Seats Inc. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Vivid Seats

Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its position in shares of Vivid Seats by 301.6% in the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after purchasing an additional 5,594 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Vivid Seats in the second quarter worth approximately $61,000. Marshall Wace LLP purchased a new stake in shares of Vivid Seats in the second quarter worth approximately $67,000. Entropy Technologies LP purchased a new stake in shares of Vivid Seats in the first quarter worth approximately $101,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Vivid Seats by 259.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock worth $124,000 after purchasing an additional 14,927 shares in the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.