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

Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) has been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.00.

A number of research firms have weighed in on SEAT. Imperial Capital initiated coverage on Vivid Seats in a report on Friday, March 24th. They issued an “outperform” rating and a $9.00 price target for the company. Royal Bank of Canada lowered their price objective on shares of Vivid Seats from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 8th. Raymond James increased their price objective on shares of Vivid Seats from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Vivid Seats from $9.00 to $10.00 in a research report on Monday, May 15th.

Vivid Seats Trading Up 0.3 %

Shares of NASDAQ:SEAT opened at $7.67 on Monday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 15.65 and a beta of 0.92. The stock’s 50-day moving average price is $7.65 and its two-hundred day moving average price is $7.77. Vivid Seats has a 12-month low of $6.29 and a 12-month high of $9.89.

Vivid Seats (NASDAQ:SEAT – Get Rating) last posted its earnings results on Tuesday, March 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Vivid Seats had a net margin of 6.28% and a negative return on equity of 9.71%. The firm had revenue of $164.99 million during the quarter, compared to the consensus estimate of $154.87 million. As a group, research analysts forecast that Vivid Seats will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Vivid Seats

In related news, insider Riva Bakal sold 8,243 shares of Vivid Seats stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $7.04, for a total transaction of $58,030.72. Following the sale, the insider now directly owns 32,523 shares in the company, valued at $228,961.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Riva Bakal sold 8,243 shares of Vivid Seats stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $7.04, for a total transaction of $58,030.72. Following the transaction, the insider now directly owns 32,523 shares of the company’s stock, valued at $228,961.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Jonathan Miles Wagner sold 11,757 shares of Vivid Seats stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $7.04, for a total value of $82,769.28. Following the transaction, the chief technology officer now directly owns 50,460 shares in the company, valued at $355,238.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,380 shares of company stock worth $186,761 over the last ninety days.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Vivid Seats by 25.8% during the 1st quarter. JPMorgan Chase & Co. now owns 31,420 shares of the company’s stock valued at $239,000 after buying an additional 6,453 shares during the last quarter. State Street Corp lifted its holdings in shares of Vivid Seats by 1.9% during the 1st quarter. State Street Corp now owns 507,257 shares of the company’s stock valued at $3,870,000 after buying an additional 9,289 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Vivid Seats by 7.7% during the 1st quarter. Geode Capital Management LLC now owns 549,739 shares of the company’s stock valued at $4,195,000 after buying an additional 39,273 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Vivid Seats during the 1st quarter valued at about $246,000. Finally, Quarry LP lifted its holdings in shares of Vivid Seats by 291.2% during the 1st quarter. Quarry LP now owns 6,584 shares of the company’s stock valued at $50,000 after buying an additional 4,901 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

About Vivid Seats

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Vivid Seats Inc operates as an online secondary marketplace for tickets in the United States and Canada. 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 live sports, concerts, and theater shows, and other live events.