Shares of Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) have earned an average rating of "Moderate Buy" from the ten analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.78.
Several brokerages have recently weighed in on SEAT. Evercore ISI reduced their target price on shares of Vivid Seats to $8.00 in a research note on Tuesday, November 15th. Royal Bank of Canada reduced their price target on shares of 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Vivid Seats in a research note on Monday, October 3rd. They issued a "hold" rating and a $9.00 price target on the stock. Credit Suisse Group reduced their price target on shares of Vivid Seats from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 9th. Finally, William Blair reaffirmed an "outperform" rating on shares of Vivid Seats in a research note on Wednesday, November 30th.
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Insiders Place Their Bets
In other Vivid Seats news, Director Craig A. Dixon sold 4,889 shares of the stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $7.50, for a total transaction of $36,667.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 8,814 shares of company stock worth $66,969 in the last three months.
Institutional Trading of Vivid Seats
Institutional investors have recently modified their holdings of the company. Winthrop Advisory Group LLC boosted its holdings in shares of Vivid Seats by 66.7% in the 2nd quarter. Winthrop Advisory Group LLC now owns 25,000 shares of the company's stock valued at $187,000 after buying an additional 10,000 shares in the last quarter. B. Riley Asset Management LLC acquired a new stake in Vivid Seats during the 2nd quarter worth about $559,000. Massachusetts Financial Services Co. MA grew its position in Vivid Seats by 2.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,872,666 shares of the company's stock worth $28,929,000 after purchasing an additional 100,862 shares during the period. Swiss National Bank purchased a new stake in shares of Vivid Seats during the 2nd quarter worth about $402,000. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in shares of Vivid Seats during the 2nd quarter worth about $1,875,000. 31.35% of the stock is currently owned by institutional investors.
Vivid Seats Stock Performance
SEAT stock opened at $8.30 on Tuesday. Vivid Seats has a 52 week low of $6.48 and a 52 week high of $12.52. The company has a fifty day simple moving average of $7.62 and a two-hundred day simple moving average of $8.05.
Vivid Seats (NASDAQ:SEAT – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $156.82 million during the quarter, compared to analysts' expectations of $129.31 million. On average, equities analysts predict that Vivid Seats will post 0.46 EPS for the current fiscal year.
Vivid Seats Company Profile
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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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