Vivid Seats (NASDAQ:SEAT) Trading Down 5.5% – Time to Sell?

Shares of Vivid Seats Inc. (NASDAQ:SEAT) traded down 5.5% on Monday . The stock traded as low as $4.66 and last traded at $4.68. 106,065 shares changed hands during trading, an increase of 53% from the average daily volume of 69,244 shares. The stock had previously closed at $4.95.

Analyst Ratings Changes

SEAT has been the topic of a number of recent research reports. Morgan Stanley set a $9.25 price target on shares of Vivid Seats and gave the stock an “equal weight” rating in a research report on Wednesday, June 10th. Wall Street Zen raised shares of Vivid Seats from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Vivid Seats in a research note on Friday, September 4th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $9.00 target price (up from $8.00) on shares of Vivid Seats in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.50 target price (up from $7.00) on shares of Vivid Seats in a report on Tuesday, August 25th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Vivid Seats presently has a consensus rating of “Hold” and an average target price of $10.27.

Vivid Seats Price Performance

The company has a market cap of $51.59 million, a price-to-earnings ratio of -0.10 and a beta of 1.05. The firm’s fifty day moving average price is $6.85 and its 200-day moving average price is $7.08.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($1.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.28). The firm had revenue of $129.86 million during the quarter, compared to analyst estimates of $122.11 million. Vivid Seats had a negative return on equity of 211.26% and a negative net margin of 60.26%. As a group, equities analysts forecast that Vivid Seats Inc. will post -4.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently made changes to their positions in SEAT. Great Lakes Advisors LLC acquired a new stake in Vivid Seats in the 2nd quarter valued at approximately $68,000. Whetstone Capital Advisors LLC bought a new stake in Vivid Seats during the 4th quarter valued at $595,000. Bank of America Corp DE boosted its position in Vivid Seats by 40.2% during 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 period. Finally, Quantinno Capital Management LP boosted its position in Vivid Seats by 96.8% during the 1st quarter. Quantinno Capital Management LP now owns 128,401 shares of the company’s stock worth $759,000 after acquiring an additional 63,161 shares during the period. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.