Vivid Seats (NASDAQ:SEAT – Get Rating) had its price objective dropped by research analysts at Piper Sandler from $9.00 to $8.00 in a note issued to investors on Friday, The Fly reports. Piper Sandler's price target would suggest a potential upside of 4.58% from the stock's current price.
Other research analysts also recently issued reports about the company. William Blair reaffirmed an "outperform" rating on shares of Vivid Seats in a research note on Wednesday, November 30th. Evercore ISI dropped their price target on Vivid Seats to $8.00 in a research note on Tuesday, November 15th. Royal Bank of Canada dropped their price target on Vivid Seats from $10.50 to $10.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 9th. Credit Suisse Group decreased their price objective on Vivid Seats from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Wednesday, November 9th. Finally, DA Davidson decreased their price objective on Vivid Seats to $20.00 in a report on Tuesday, November 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $11.78.
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Vivid Seats Price Performance
Shares of NASDAQ:SEAT opened at $7.65 on Friday. The business's 50-day moving average is $7.64 and its 200-day moving average is $8.04. Vivid Seats has a 1 year low of $6.48 and a 1 year high of $12.52.
Vivid Seats (NASDAQ:SEAT – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Vivid Seats had a net
margin of 3.66% and a negative return on equity of 2.92%. The business had revenue of $156.82 million during the quarter, compared to analyst estimates of $129.31 million. Equities analysts anticipate that Vivid Seats will post 0.46 EPS for the current fiscal year.
Insider Activity
In other news, Director Craig A. Dixon sold 4,889 shares of the company's stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $7.50, for a total value of $36,667.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 8,814 shares of company stock valued at $66,969 over the last three months.
Hedge Funds Weigh In On Vivid Seats
Several institutional investors have recently modified their holdings of the business. Security Benefit Life Insurance Co. KS bought a new position in shares of Vivid Seats in the second quarter valued at approximately $388,867,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Vivid Seats by 18.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,577,860 shares of the company's stock valued at $35,066,000 after acquiring an additional 705,194 shares in the last quarter. Vanguard Group Inc. grew its holdings in Vivid Seats by 3.6% during the third quarter. Vanguard Group Inc. now owns 2,259,479 shares of the company's stock valued at $17,307,000 after purchasing an additional 77,813 shares during the period. FMR LLC grew its holdings in Vivid Seats by 160.9% during the second quarter. FMR LLC now owns 2,206,475 shares of the company's stock valued at $16,482,000 after purchasing an additional 1,360,674 shares during the period. Finally, BlackRock Inc. grew its holdings in Vivid Seats by 5.7% during the third quarter. BlackRock Inc. now owns 1,270,230 shares of the company's stock valued at $9,730,000 after purchasing an additional 68,892 shares during the period. 31.35% of the stock is owned by institutional investors.
About Vivid Seats
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Vivid Seats Inc operates as an online secondary marketplace for tickets in the United States and Canada. 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 live sports, concerts, and theater shows, and other live events.
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