Vivid Seats (NASDAQ:SEAT) Shares Down 5.5% – Should You Sell?

Vivid Seats Inc. (NASDAQ:SEAT) shares dropped 5.5% during mid-day trading on Monday . The stock traded as low as $4.66 and last traded at $4.68. Approximately 106,065 shares traded hands during trading, an increase of 53% from the average daily volume of 69,244 shares. The stock had previously closed at $4.95.

Analysts Set New Price Targets

A number of research firms recently weighed in on SEAT. Benchmark increased their price objective on shares of Vivid Seats from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada reissued a “sector perform” rating and set a $9.00 target price (up from $8.00) on shares of Vivid Seats in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Vivid Seats in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $7.50 price target (up from $7.00) on shares of Vivid Seats in a research note on Tuesday, August 25th. Finally, Morgan Stanley set a $9.25 target price on Vivid Seats and gave the company an “equal weight” rating in a research note on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Vivid Seats currently has a consensus rating of “Hold” and a consensus price target of $10.27.

Vivid Seats Trading Down 5.5%

The stock has a fifty day moving average of $6.90 and a 200-day moving average of $7.09. The firm has a market capitalization of $52.60 million, a price-to-earnings ratio of -0.10 and a beta of 1.05.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.28). The company had revenue of $129.86 million during the quarter, compared to analyst estimates of $122.11 million. Vivid Seats had a negative net margin of 60.26% and a negative return on equity of 211.26%. As a group, equities research analysts forecast that Vivid Seats Inc. will post -4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

A number of large investors have recently made changes to their positions in the company. Great Lakes Advisors LLC acquired a new stake in shares of Vivid Seats in the second quarter worth $68,000. Bank of America Corp DE lifted its position in shares of Vivid Seats by 40.2% in the first quarter. Bank of America Corp DE now owns 94,489 shares of the company’s stock worth $558,000 after purchasing an additional 27,088 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Vivid Seats by 96.8% in the first quarter. Quantinno Capital Management LP now owns 128,401 shares of the company’s stock worth $759,000 after purchasing an additional 63,161 shares in the last quarter. Finally, Whetstone Capital Advisors LLC acquired a new stake in shares of Vivid Seats during the fourth quarter worth approximately $595,000. Institutional investors and hedge funds 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.