Vivid Seats (NASDAQ:SEAT) Reaches New 12-Month Low at $3.58

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $3.58 and last traded at $3.58, with a volume of 1275782 shares changing hands. The stock had previously closed at $3.66.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. DA Davidson cut their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Royal Bank of Canada reduced their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Benchmark lowered their price objective on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a report on Monday, August 12th. 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 has a consensus rating of “Moderate Buy” and an average price target of $7.28.

Vivid Seats Stock Down 2.2 %

The company has a market cap of $743.39 million, a price-to-earnings ratio of 6.56, a PEG ratio of 14.46 and a beta of 1.22. The business has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $5.10. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48.

Vivid Seats (NASDAQ:SEAT) last released its quarterly 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 net margin of 4.73% and a return on equity of 57.44%. The firm had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same period in the prior year, the business earned $0.20 EPS. As a group, equities analysts forecast that Vivid Seats Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

A number of hedge funds have recently bought and sold shares of the stock. Invenomic Capital Management LP grew its holdings in shares of Vivid Seats by 289.4% during the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock worth $9,220,000 after purchasing an additional 1,143,870 shares in the last quarter. Anson Funds Management LP raised its stake in shares of Vivid Seats by 66.5% in the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after buying an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP bought a new position in shares of Vivid Seats during the 1st quarter worth about $5,690,000. Harbor Capital Advisors Inc. boosted its position in shares of Vivid Seats by 618.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 933,292 shares of the company’s stock valued at $5,366,000 after acquiring an additional 803,300 shares in the last quarter. Finally, HBK Investments L P bought a new stake in Vivid Seats in the fourth quarter valued at about $4,424,000. 39.92% of the stock is owned by institutional investors.

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.