Vivid Seats Inc. (NASDAQ:SEAT) Receives Consensus Recommendation of “Hold” from Brokerages

Vivid Seats Inc. (NASDAQ:SEAT) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.4333.

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Vivid Seats from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Wall Street Zen upgraded shares of Vivid Seats from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Morgan Stanley set a $9.25 price objective on shares of Vivid Seats and gave the stock an “equal weight” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Vivid Seats in a research note on Tuesday, June 9th.

Vivid Seats Stock Performance

NASDAQ:SEAT opened at $7.72 on Tuesday. The stock’s fifty day moving average is $7.63 and its 200 day moving average is $7.11. Vivid Seats has a fifty-two week low of $5.06 and a fifty-two week high of $35.30. The firm has a market capitalization of $83.14 million, a PE ratio of -0.11 and a beta of 1.11.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.32). Vivid Seats had a positive return on equity of 68.65% and a negative net margin of 82.25%.The firm had revenue of $125.78 million for the quarter, compared to analysts’ expectations of $124.55 million. Equities analysts forecast that Vivid Seats will post -4.16 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its stake in shares of Vivid Seats by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company’s stock worth $3,756,000 after acquiring an additional 215,057 shares during the last quarter. Sun Life Financial Inc. bought a new position in Vivid Seats in the 4th quarter valued at $3,213,000. First Trust Advisors LP increased its stake in Vivid Seats by 2.7% in the second quarter. First Trust Advisors LP now owns 297,688 shares of the company’s stock worth $503,000 after purchasing an additional 7,940 shares during the period. Caption Management LLC increased its stake in Vivid Seats by 1,470.9% in the second quarter. Caption Management LLC now owns 250,472 shares of the company’s stock worth $423,000 after purchasing an additional 234,528 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Vivid Seats by 106.8% during the second quarter. Rhumbline Advisers now owns 203,271 shares of the company’s stock worth $344,000 after purchasing an additional 104,972 shares during the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Vivid Seats Company Profile

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.