Vivid Seats (NASDAQ:SEAT) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Vivid Seats (NASDAQ:SEAT) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also weighed in on the stock. Deutsche Bank reiterated a “hold” rating and issued a $7.50 price objective (up from $7.00) on shares of Vivid Seats in a research note on Tuesday, August 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Vivid Seats in a research note on Friday, September 4th. Morgan Stanley set a $5.00 price target on shares of Vivid Seats in a research note on Thursday, October 29th. Royal Bank Of Canada dropped their price target on shares of Vivid Seats from $9.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 10th. Finally, Benchmark increased their price objective on Vivid Seats from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $7.79.

Vivid Seats Trading Up 11.2%

NASDAQ:SEAT traded up $0.14 on Friday, hitting $1.39. 197,868 shares of the company’s stock traded hands, compared to its average volume of 123,451. Vivid Seats has a 1 year low of $1.13 and a 1 year high of $10.27. The firm has a 50-day moving average price of $3.23 and a 200-day moving average price of $6.17. The company has a market cap of $15.62 million, a PE ratio of -0.03 and a beta of 1.08.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings results on Monday, November 9th. The company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.46). The company 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%. On average, research analysts forecast that Vivid Seats will post -4.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds have recently added to or reduced their stakes in SEAT. Quantinno Capital Management LP raised its position in Vivid Seats by 96.8% during the first 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 in the last quarter. Bank of America Corp DE grew its position 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 acquiring an additional 27,088 shares in the last quarter. Empowered Funds LLC bought a new stake in Vivid Seats in the third quarter worth approximately $70,000. Finally, Great Lakes Advisors LLC bought a new stake in Vivid Seats in the second quarter worth approximately $68,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

Vivid Seats Company Profile

Vivid Seats operates an online marketplace for tickets to live events. Its platform connects fans seeking tickets with sellers offering them for resale, with events spanning professional and college sports, concerts, theater and other live entertainment. The company provides digital tools for browsing events, comparing available tickets and completing purchases through its website and mobile app. It also offers services and technology to ticket sellers, supporting the listing and distribution of tickets through its marketplace.