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

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have received a consensus rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $10.2667.

SEAT has been the subject of a number of recent analyst reports. Morgan Stanley set a $9.25 price objective on Vivid Seats and gave the company an “equal weight” rating in a report on Wednesday, June 10th. Wall Street Zen upgraded Vivid Seats from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Benchmark boosted their target price on shares of Vivid Seats from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Vivid Seats in a report on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed 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.

Vivid Seats Price Performance

Vivid Seats stock opened at $3.92 on Wednesday. Vivid Seats has a 1-year low of $3.75 and a 1-year high of $17.16. The firm has a market capitalization of $44.06 million, a P/E ratio of -0.09 and a beta of 1.05. The company’s 50-day moving average is $6.52 and its 200 day moving average is $7.01.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.28). The firm had revenue of $129.86 million during the quarter, compared to the consensus estimate of $122.11 million. Vivid Seats had a negative return on equity of 211.26% and a negative net margin of 60.26%. Research analysts anticipate that Vivid Seats will post -4.42 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

Several institutional investors and hedge funds have recently made changes to their positions in SEAT. Whetstone Capital Advisors LLC bought a new stake in shares of Vivid Seats in the 4th quarter valued at about $595,000. Great Lakes Advisors LLC bought a new position in Vivid Seats in the second quarter worth approximately $68,000. Bank of America Corp DE raised its stake in 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 buying an additional 27,088 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Vivid Seats by 96.8% during the 1st 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 during the last quarter. 39.92% of the stock is currently owned by institutional investors.

About Vivid Seats

Vivid Seats Inc (NASDAQ: SEAT) operates an online ticket marketplace that connects buyers with sellers of tickets to live events. The company’s platform offers access to sporting events, concerts, theater productions, comedy shows and other entertainment experiences through its website and mobile applications.

In addition to its consumer marketplace, Vivid Seats provides distribution and marketing tools that help ticket sellers reach potential buyers. The company also operates Vivid Picks, a sports-focused gaming product, and offers ticketing and fan-engagement services through partnerships and affiliated channels.