Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) insider Riva Bakal sold 1,341 shares of the stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $7.88, for a total value of $10,567.08. Following the transaction, the insider now owns 13,151 shares of the company's stock, valued at approximately $103,629.88. The transaction was disclosed in a filing with the SEC, which is available at this link.
Vivid Seats Trading Up 0.5 %
Vivid Seats stock opened at $8.27 on Tuesday. Vivid Seats Inc. has a 52 week low of $6.48 and a 52 week high of $12.52. The stock has a 50-day simple moving average of $7.63 and a 200 day simple moving average of $8.06.
Get Vivid Seats alerts:Vivid Seats (NASDAQ:SEAT – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Vivid Seats had a negative return on equity of 2.92% and a net margin of 3.66%. The business had revenue of $156.82 million for the quarter, compared to the consensus estimate of $129.31 million. On average, sell-side analysts anticipate that Vivid Seats Inc. will post 0.45 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Evercore ISI decreased their price objective on Vivid Seats to $8.00 in a report on Tuesday, November 15th. Royal Bank of Canada decreased their price objective on Vivid Seats from $10.50 to $10.00 and set a "sector perform" rating for the company in a report 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. Piper Sandler decreased their price objective on Vivid Seats from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, January 6th. Finally, William Blair restated an "outperform" rating on shares of Vivid Seats in a report on Wednesday, November 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Vivid Seats currently has an average rating of "Moderate Buy" and an average target price of $11.78.Institutional Investors Weigh In On Vivid Seats
Several hedge funds have recently bought and sold shares of the stock. Security Benefit Life Insurance Co. KS acquired a new stake in Vivid Seats during the second quarter worth approximately $388,867,000. Massachusetts Financial Services Co. MA lifted its position in Vivid Seats by 18.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,577,860 shares of the company's stock worth $35,066,000 after acquiring an additional 705,194 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 acquiring an additional 77,813 shares during the last quarter. FMR LLC lifted its position in Vivid Seats by 160.9% during the second quarter. FMR LLC now owns 2,206,475 shares of the company's stock worth $16,482,000 after acquiring an additional 1,360,674 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Vivid Seats by 5.7% during the third quarter. BlackRock Inc. now owns 1,270,230 shares of the company's stock worth $9,730,000 after acquiring an additional 68,892 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.
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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