Brokerages Set Vivid Seats Inc. (NASDAQ:SEAT) Target Price at $10.21

Vivid Seats Inc. (NASDAQ:SEAT) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.2667.

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Vivid Seats from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Morgan Stanley set a $9.25 price target on Vivid Seats and gave the stock an “equal weight” rating in a report on Wednesday, June 10th. Benchmark increased their price target on Vivid Seats from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Vivid Seats in a report on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $7.50 price objective (up from $7.00) on shares of Vivid Seats in a research report on Tuesday.

Hedge Funds Weigh In On Vivid Seats

A number of large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its position in shares of Vivid Seats by 10.7% in the second quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company’s stock valued at $3,756,000 after purchasing an additional 215,057 shares during the period. Sun Life Financial Inc. purchased a new stake in shares of Vivid Seats during the fourth quarter worth about $3,213,000. First Trust Advisors LP raised its position in shares of Vivid Seats by 2.7% during the 2nd quarter. First Trust Advisors LP now owns 297,688 shares of the company’s stock worth $503,000 after purchasing an additional 7,940 shares during the last quarter. Caption Management LLC lifted its stake in Vivid Seats by 1,470.9% in the 2nd quarter. Caption Management LLC now owns 250,472 shares of the company’s stock valued at $423,000 after buying an additional 234,528 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Vivid Seats by 106.8% in the 2nd quarter. Rhumbline Advisers now owns 203,271 shares of the company’s stock valued at $344,000 after buying an additional 104,972 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

Vivid Seats Price Performance

SEAT opened at $6.02 on Friday. The firm has a fifty day moving average price of $7.21 and a 200 day moving average price of $7.20. Vivid Seats has a 1 year low of $5.06 and a 1 year high of $18.73. The stock has a market cap of $67.66 million, a P/E ratio of -0.13 and a beta of 1.08.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.28). Vivid Seats had a negative net margin of 60.26% and a negative return on equity of 211.26%. The firm had revenue of $129.86 million for the quarter, compared to analyst estimates of $122.11 million. Equities analysts expect that Vivid Seats will post -4.42 EPS for the current year.

Vivid Seats Company Profile

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America’s leading ticket marketplaces.