Vivid Seats (NASDAQ:SEAT) Trading Down 4.8% on Analyst Downgrade

Shares of Vivid Seats Inc. (NASDAQ:SEAT) fell 4.8% during trading on Monday after Maxim Group lowered their price target on the stock from $9.00 to $8.00. Maxim Group currently has a buy rating on the stock. Vivid Seats traded as low as $3.92 and last traded at $3.93. 81,557 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,386,498 shares. The stock had previously closed at $4.13.

Several other equities research analysts also recently issued reports on SEAT. Canaccord Genuity Group cut their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Citigroup cut their price target on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, September 20th. DA Davidson reduced their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Craig Hallum decreased their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada cut their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.17.

Institutional Investors Weigh In On Vivid Seats

A number of hedge funds and other institutional investors have recently made changes to their positions in SEAT. Ameritas Investment Partners Inc. increased its stake in Vivid Seats by 301.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after acquiring an additional 5,594 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Vivid Seats during the 2nd quarter worth $61,000. Marshall Wace LLP bought a new position in shares of Vivid Seats in the second quarter worth $67,000. Entropy Technologies LP acquired a new position in Vivid Seats in the first quarter valued at about $101,000. Finally, Plan Group Financial LLC lifted its position in Vivid Seats by 148.0% during the third quarter. Plan Group Financial LLC now owns 32,282 shares of the company’s stock worth $119,000 after purchasing an additional 19,264 shares during the period. 39.92% of the stock is currently owned by institutional investors and hedge funds.

Vivid Seats Price Performance

The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $821.93 million, a price-to-earnings ratio of 7.40, a P/E/G ratio of 16.55 and a beta of 1.18. The business’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $4.74.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The firm had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same period last year, the business earned $0.20 earnings per share. On average, research analysts forecast that Vivid Seats Inc. will post 0.14 earnings per share for the current year.

Vivid Seats Company Profile

Vivid Seats Inc operates an online ticket marketplace in the United States, Canada, and Japan. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for sports, concerts, theater events, and other live events.