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Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $8.00 at Piper Sandler

Defense World ·  Jan 7, 2023 04:51

Vivid Seats (NASDAQ:SEAT – Get Rating) had its target price cut by Piper Sandler from $9.00 to $8.00 in a research report report published on Friday morning, The Fly reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on the company. Credit Suisse Group dropped their price target on Vivid Seats from $13.00 to $11.00 and set an outperform rating on the stock in a research report on Wednesday, November 9th. 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 report on Wednesday, November 9th. DA Davidson dropped their price target on Vivid Seats to $20.00 in a research report on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Vivid Seats in a research report on Monday, October 3rd. They set a hold rating and a $9.00 price objective on the stock. Finally, Evercore ISI lowered their price objective on Vivid Seats to $8.00 in a research report on Tuesday, November 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $11.78.

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Vivid Seats Stock Performance

SEAT opened at $7.77 on Friday. The business has a 50 day moving average price of $7.62 and a 200 day moving average price of $8.03. Vivid Seats has a twelve month low of $6.48 and a twelve month high of $12.52.

Vivid Seats (NASDAQ:SEAT – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $156.82 million during the quarter, compared to the consensus estimate of $129.31 million. Vivid Seats had a negative return on equity of 2.92% and a net margin of 3.66%. On average, research analysts expect that Vivid Seats will post 0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Vivid Seats

In other Vivid Seats news, Director Craig A. Dixon sold 4,889 shares of the company's stock in a transaction 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 legal filing with the SEC, which is available through the SEC website. Insiders have sold 8,814 shares of company stock worth $66,969 over the last three months.

Institutional Trading of Vivid Seats

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Vivid Seats by 23.5% in the third quarter. Bank of New York Mellon Corp now owns 81,772 shares of the company's stock valued at $627,000 after acquiring an additional 15,580 shares during the period. Jane Street Group LLC bought a new stake in shares of Vivid Seats during the third quarter worth $194,000. State Street Corp grew its holdings in shares of Vivid Seats by 28.8% during the third quarter. State Street Corp now owns 419,037 shares of the company's stock worth $3,210,000 after purchasing an additional 93,786 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Vivid Seats by 3.6% during the third quarter. Vanguard Group Inc. now owns 2,259,479 shares of the company's stock worth $17,307,000 after purchasing an additional 77,813 shares during the last quarter. Finally, Prospect Capital Advisors LLC bought a new stake in shares of Vivid Seats during the third quarter worth $2,754,000. 31.35% of the stock is currently owned by institutional investors.

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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