Vivid Seats (NASDAQ:SEAT) Stock Price Up 9.3% – Time to Buy?
by Kim Johansen · The Markets DailyVivid Seats Inc. (NASDAQ:SEAT – Get Free Report) traded up 9.3% on Wednesday . The company traded as high as $7.43 and last traded at $7.42. 144,940 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 106,279 shares. The stock had previously closed at $6.79.
Analyst Upgrades and Downgrades
SEAT has been the topic of a number of recent analyst reports. Scotiabank set a $10.00 price target on Vivid Seats in a report on Friday, March 13th. Canaccord Genuity Group set a $10.00 target price on Vivid Seats and gave the company a “hold” rating in a research report on Friday, March 13th. Royal Bank Of Canada cut their price target on shares of Vivid Seats from $12.00 to $8.00 and set a “sector perform” rating on the stock in a report on Friday, March 13th. Deutsche Bank Aktiengesellschaft set a $7.00 price target on shares of Vivid Seats in a research report on Tuesday, January 20th. Finally, Bank of America restated an “underperform” rating and set a $5.65 price objective on shares of Vivid Seats in a report on Thursday, March 12th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.27.
Check Out Our Latest Report on Vivid Seats
Vivid Seats Price Performance
The company has a debt-to-equity ratio of 1.41, a current ratio of 0.59 and a quick ratio of 0.53. The firm’s 50 day moving average price is $6.46 and its two-hundred day moving average price is $8.11.
Vivid Seats (NASDAQ:SEAT – Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($10.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.81) by ($8.58). Vivid Seats had a negative net margin of 75.21% and a positive return on equity of 31.44%. The business had revenue of $126.81 million for the quarter, compared to analysts’ expectations of $137.18 million. On average, equities research analysts anticipate that Vivid Seats Inc. will post 0.12 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Sun Life Financial Inc. bought a new position in shares of Vivid Seats in the fourth quarter valued at approximately $3,213,000. Caption Management LLC lifted its stake in Vivid Seats by 1,470.9% in the 2nd quarter. Caption Management LLC now owns 250,472 shares of the company’s stock worth $423,000 after purchasing an additional 234,528 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Vivid Seats by 10.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company’s stock valued at $3,756,000 after purchasing an additional 215,057 shares during the period. Emeth Value Capital LLC boosted its holdings in Vivid Seats by 43.4% in the 4th quarter. Emeth Value Capital LLC now owns 556,918 shares of the company’s stock valued at $4,015,000 after purchasing an additional 168,607 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Vivid Seats by 106.8% during the 2nd quarter. Rhumbline Advisers now owns 203,271 shares of the company’s stock valued at $344,000 after purchasing an additional 104,972 shares in the last quarter. Hedge funds and other institutional investors 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.