Vivid Seats (NASDAQ:SEAT) Cut to “Hold” at Craig Hallum

Craig Hallum cut shares of Vivid Seats (NASDAQ:SEAT) from a buy rating to a hold rating in a report published on Monday, Marketbeat Ratings reports. They currently have $2.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised Vivid Seats from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Benchmark raised their target price on Vivid Seats from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $5.00 target price on Vivid Seats in a research note on Thursday, October 29th. Deutsche Bank reiterated a “hold” rating and set a $7.50 price target (up from $7.00) on shares of Vivid Seats in a report on Tuesday, August 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $9.00 price target (up from $8.00) on shares of Vivid Seats in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $7.79.

Vivid Seats Stock Down 4.7%

Shares of NASDAQ SEAT opened at $1.42 on Monday. Vivid Seats has a 12-month low of $1.34 and a 12-month high of $10.27. The company has a 50-day moving average of $3.41 and a 200 day moving average of $6.22.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Monday, November 9th. The company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.46). The business had revenue of $126.89 million during the quarter, compared to analysts’ expectations of $126.11 million. Vivid Seats had a negative return on equity of 211.26% and a negative net margin of 63.12%. As a group, research analysts forecast that Vivid Seats will post -4.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several large investors have recently modified their holdings of the business. Great Lakes Advisors LLC acquired a new stake in shares of Vivid Seats during the second quarter valued at about $68,000. Quantinno Capital Management LP raised its stake in shares of Vivid Seats by 96.8% in the 1st quarter. Quantinno Capital Management LP now owns 128,401 shares of the company’s stock valued at $759,000 after acquiring an additional 63,161 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Vivid Seats by 40.2% in the 1st quarter. Bank of America Corp DE now owns 94,489 shares of the company’s stock worth $558,000 after acquiring an additional 27,088 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

About Vivid Seats

Vivid Seats Inc. (NASDAQ: SEAT) operates an online marketplace that connects fans with ticket sellers for live entertainment and sporting events. Through its website and mobile applications, the company offers tickets to concerts, professional and college sports, theater productions, comedy shows and other events. The platform is designed to support the full ticket-buying process, including event discovery, ticket selection and digital delivery. Vivid Seats also provides tools and services for ticket sellers and event organizers, while its Vivid Seats Rewards program is intended to encourage repeat purchases through customer benefits.