Vivid Seats (NASDAQ:SEAT) Trading Down 4.8% Following Analyst Downgrade

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price dropped 4.8% on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $4.50 to $4.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Vivid Seats traded as low as $3.92 and last traded at $3.93. Approximately 81,557 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,386,498 shares. The stock had previously closed at $4.13.

Several other equities research analysts have also recently weighed in on the stock. Citigroup lowered their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Benchmark dropped their target price on Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Piper Sandler decreased their price objective on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Maxim Group cut their target price on Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday. Finally, DA Davidson decreased their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.11.

Institutional Investors Weigh In On Vivid Seats

A number of large investors have recently modified their holdings of SEAT. Exchange Traded Concepts LLC boosted its stake in Vivid Seats by 3.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 99,568 shares of the company’s stock worth $368,000 after purchasing an additional 3,676 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Vivid Seats by 301.6% during the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after buying an additional 5,594 shares during the period. Rhumbline Advisers grew its holdings in shares of Vivid Seats by 9.3% during the second quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock valued at $536,000 after buying an additional 7,961 shares during the last quarter. American Century Companies Inc. increased its position in shares of Vivid Seats by 23.1% in the 2nd quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock valued at $318,000 after acquiring an additional 10,372 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Vivid Seats in the 2nd quarter worth $61,000. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Trading Down 3.4 %

The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48. The stock has a 50-day simple moving average of $4.03 and a 200 day simple moving average of $4.73. The company has a market cap of $830.25 million, a price-to-earnings ratio of 7.40, a PEG ratio of 16.55 and a beta of 1.18.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) 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 firm had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. During the same period last year, the firm earned $0.20 EPS. As a group, equities research analysts predict that Vivid Seats Inc. will post 0.14 EPS for the current fiscal year.

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.