Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $8.00 at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price target lowered by Benchmark from $10.00 to $8.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

SEAT has been the subject of a number of other reports. Maxim Group reduced their price objective on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and set a $4.00 price objective (down previously from $5.00) on shares of Vivid Seats in a research note on Friday. Craig Hallum cut their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group lowered their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.78.

Vivid Seats Stock Down 4.4 %

SEAT traded down $0.17 during trading on Friday, hitting $3.58. The company had a trading volume of 1,191,278 shares, compared to its average volume of 803,505. The firm’s 50-day moving average price is $3.97 and its 200 day moving average price is $4.69. The company has a market capitalization of $743.89 million, a PE ratio of 7.47, a PEG ratio of 17.60 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48. Vivid Seats has a one year low of $3.36 and a one year high of $8.80.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, equities analysts expect that Vivid Seats will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in Vivid Seats by 1.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,371,128 shares of the company’s stock worth $25,134,000 after purchasing an additional 77,983 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Vivid Seats by 10.4% in the first quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after buying an additional 410,243 shares in the last quarter. Janus Henderson Group PLC grew its position in Vivid Seats by 10.1% during the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after buying an additional 273,734 shares in the last quarter. Anson Funds Management LP increased its stake in Vivid Seats by 66.5% during the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after acquiring an additional 1,076,271 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Vivid Seats by 180.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after acquiring an additional 1,680,327 shares in the last quarter. Institutional investors own 39.92% of the company’s stock.

About Vivid Seats

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.