Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) has been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.78.
Several equities research analysts recently commented on SEAT shares. William Blair reiterated an "outperform" rating on shares of Vivid Seats in a report on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft started coverage on Vivid Seats in a report on Monday, October 3rd. They set a "hold" rating and a $9.00 target price on the stock. Royal Bank of Canada dropped their price objective on Vivid Seats from $10.50 to $10.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 9th. Piper Sandler dropped their price objective on Vivid Seats from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, January 6th. Finally, Evercore ISI dropped their price objective on Vivid Seats to $8.00 in a report on Tuesday, November 15th.
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Insider Activity
In other news, Director Craig A. Dixon sold 4,889 shares of the business'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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 8,987 shares of company stock worth $68,960.
Institutional Investors Weigh In On Vivid Seats
Institutional investors have recently made changes to their positions in the company. Winthrop Advisory Group LLC increased 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 acquiring an additional 10,000 shares during the last quarter. B. Riley Asset Management LLC acquired a new position in Vivid Seats during the 2nd quarter valued at approximately $559,000. Massachusetts Financial Services Co. MA boosted 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 valued at $28,929,000 after purchasing an additional 100,862 shares during the period. Swiss National Bank acquired a new position in Vivid Seats during the 2nd quarter valued at approximately $402,000. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Vivid Seats during the 2nd quarter valued at approximately $1,875,000. 31.35% of the stock is currently owned by institutional investors.
Vivid Seats Stock Up 0.5 %
NASDAQ SEAT opened at $8.27 on Tuesday. Vivid Seats has a 1-year low of $6.48 and a 1-year high of $12.52. The business's 50-day simple moving average is $7.63 and its 200-day simple moving average is $8.06.
Vivid Seats (NASDAQ:SEAT – Get Rating) last released its quarterly earnings data 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). The firm had revenue of $156.82 million during the quarter, compared to analyst estimates of $129.31 million. Vivid Seats had a net margin of 3.66% and a negative return on equity of 2.92%. On average, equities research analysts predict that Vivid Seats will post 0.45 EPS for the current year.
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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