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

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.77.

A number of analysts recently issued reports on SEAT shares. Credit Suisse Group lowered their price target on Vivid Seats from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Vivid Seats from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Friday, August 11th. Benchmark upped their target price on Vivid Seats from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Morgan Stanley assumed coverage on Vivid Seats in a report on Tuesday, August 1st. They set an “equal weight” rating and a $9.50 price objective for the company. Finally, Bank of America began coverage on Vivid Seats in a research report on Monday, July 24th. They set a “buy” rating and a $10.00 target price for the company.

Insider Transactions at Vivid Seats

In related news, Director Craig A. Dixon sold 12,500 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $7.75, for a total transaction of $96,875.00. Following the completion of the sale, the director now owns 5,579 shares of the company’s stock, valued at $43,237.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vivid Seats news, Director Craig A. Dixon sold 12,500 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $7.75, for a total value of $96,875.00. Following the completion of the sale, the director now directly owns 5,579 shares in the company, valued at $43,237.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Hoya Topco, Llc sold 2,400,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $7.68, for a total value of $18,432,000.00. Following the sale, the insider now owns 105,800,000 shares in the company, valued at approximately $812,544,000. The disclosure for this sale can be found here. Insiders have sold a total of 2,421,651 shares of company stock valued at $18,601,936 in the last 90 days. Insiders own 49.61% of the company’s stock.

Institutional Investors Weigh In On Vivid Seats

A number of large investors have recently made changes to their positions in SEAT. Bank of America Corp DE purchased a new position in Vivid Seats in the 1st quarter worth $33,000. Quarry LP raised its stake in shares of Vivid Seats by 291.2% in the first quarter. Quarry LP now owns 6,584 shares of the company’s stock worth $50,000 after purchasing an additional 4,901 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Vivid Seats during the second quarter worth about $62,000. Royal Bank of Canada lifted its holdings in shares of Vivid Seats by 24.1% during the second quarter. Royal Bank of Canada now owns 8,177 shares of the company’s stock worth $64,000 after purchasing an additional 1,586 shares during the period. Finally, Citigroup Inc. boosted its position in Vivid Seats by 1,291.4% in the second quarter. Citigroup Inc. now owns 8,529 shares of the company’s stock valued at $68,000 after buying an additional 7,916 shares during the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

Vivid Seats Trading Up 1.1 %

Shares of NASDAQ SEAT opened at $7.17 on Wednesday. Vivid Seats has a 12-month low of $6.29 and a 12-month high of $9.89. The firm’s 50-day moving average price is $7.74 and its 200-day moving average price is $7.70. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 2.96 and a beta of 0.95.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.14. The company had revenue of $165.38 million for the quarter, compared to analysts’ expectations of $149.32 million. Vivid Seats had a negative return on equity of 16.18% and a net margin of 9.35%. On average, equities analysts predict that Vivid Seats will post 0.4 EPS for the current fiscal year.

About Vivid Seats

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 sports, concerts, and theater shows, and other live events.