Vivid Seats (NASDAQ:SEAT) Stock Gets Downgrade from Craig Hallum

Vivid Seats (NASDAQ:SEAT) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $2.00 price target on the stock. Craig Hallum‘s price objective would indicate a potential upside of 32.89% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $9.00 price target (up from $8.00) on shares of Vivid Seats in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Vivid Seats in a research note on Friday, September 4th. Benchmark increased their target price on Vivid Seats from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Morgan Stanley set a $5.00 target price on Vivid Seats in a research report on Thursday, October 29th. Finally, Wall Street Zen raised Vivid Seats from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $8.35.

Vivid Seats Stock Performance

Shares of SEAT stock traded down $0.58 during mid-day trading on Monday, reaching $1.50. The company’s stock had a trading volume of 351,162 shares, compared to its average volume of 102,470. Vivid Seats has a 1-year low of $1.50 and a 1-year high of $11.03. The company has a market cap of $16.92 million, a P/E ratio of -0.03 and a beta of 1.08. The firm’s 50-day moving average is $3.68 and its two-hundred day moving average is $6.30.

Vivid Seats (NASDAQ:SEAT) last issued its earnings results on Monday, November 9th. The company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($0.46). Vivid Seats had a negative net margin of 60.26% and a negative return on equity of 211.26%. Sell-side analysts anticipate that Vivid Seats will post -4.42 EPS for the current year.

Institutional Trading of Vivid Seats

Several large investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC acquired a new stake in shares of Vivid Seats during the second quarter worth approximately $68,000. Bank of America Corp DE raised its stake in shares of Vivid Seats by 40.2% in the first quarter. Bank of America Corp DE now owns 94,489 shares of the company’s stock valued at $558,000 after acquiring an additional 27,088 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of Vivid Seats by 96.8% in 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 during the last quarter. 39.92% of the stock is owned by institutional investors.

About Vivid Seats

Vivid Seats Inc (NASDAQ: SEAT) operates an online marketplace that connects fans with ticket sellers for live entertainment and sporting events. Through its website and mobile applications, the company offers tickets to concerts, professional and college sports, theater productions, comedy shows and other events.

The platform is designed to support the full ticket-buying process, including event discovery, ticket selection and digital delivery. Vivid Seats also provides tools and services for ticket sellers and event organizers, while its Vivid Seats Rewards program is intended to encourage repeat purchases through customer benefits.

Founded in 2011, Vivid Seats is headquartered in Chicago and primarily serves customers in the United States and Canada.