Vivid Seats (NASDAQ:SEAT) Trading Up 0.4% – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT) shares traded up 0.4% during mid-day trading on Friday . The company traded as high as $7.52 and last traded at $7.29. 156,464 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 106,351 shares. The stock had previously closed at $7.26.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SEAT shares. Canaccord Genuity Group reduced their price target on Vivid Seats from $23.00 to $12.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft set a $7.00 target price on shares of Vivid Seats in a research report on Tuesday, January 20th. Citigroup reduced their target price on shares of Vivid Seats from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, November 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Vivid Seats in a research report on Wednesday, January 21st. Finally, Morgan Stanley set a $9.00 price target on shares of Vivid Seats in a report on Thursday, December 18th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.22.

Vivid Seats Stock Up 0.4%

The stock’s 50-day moving average price is $7.02 and its 200-day moving average price is $13.79. The company has a current ratio of 0.67, a quick ratio of 0.60 and a debt-to-equity ratio of 1.41. The stock has a market cap of $78.22 million, a price-to-earnings ratio of 2.71 and a beta of 0.90.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.23). The firm had revenue of $136.37 million for the quarter, compared to analyst estimates of $131.38 million. Vivid Seats had a positive return on equity of 4.50% and a negative net margin of 24.08%. On average, sell-side analysts expect that Vivid Seats Inc. will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On Vivid Seats

Institutional investors and hedge funds have recently made changes to their positions in the business. Capstone Financial Advisors Inc. bought a new stake in Vivid Seats in the second quarter worth approximately $25,000. Jump Financial LLC bought a new position in shares of Vivid Seats during the 2nd quarter worth approximately $32,000. Raymond James Financial Inc. acquired a new stake in shares of Vivid Seats during the 2nd quarter worth approximately $35,000. Rangeley Capital LLC bought a new stake in shares of Vivid Seats in the 2nd quarter valued at $42,000. Finally, Quantbot Technologies LP bought a new stake in shares of Vivid Seats in the 2nd quarter valued at $43,000. Institutional investors own 39.92% of the company’s stock.

About Vivid Seats

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America’s leading ticket marketplaces.