Vivid Seats (NASDAQ:SEAT) Stock Rating Cut to “Hold” at Craig Hallum

Vivid Seats (NASDAQ:SEAT) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued on Monday, Marketbeat reports. They presently have a $2.00 price objective on the stock. Craig Hallum‘s price target would suggest a potential upside of 32.89% from the company’s current price.

Several other research firms have also recently weighed in on SEAT. Morgan Stanley set a $5.00 price objective on shares of Vivid Seats in a research report on Thursday, October 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 target price (up from $8.00) on shares of Vivid Seats in a research report on Wednesday, August 5th. 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, August 25th. Wall Street Zen raised Vivid Seats from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Vivid Seats in a report on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.35.

Vivid Seats Price Performance

Shares of SEAT stock traded down $0.58 during trading hours on Monday, hitting $1.50. 351,162 shares of the company’s stock were exchanged, compared to its average volume of 102,470. Vivid Seats has a 52 week low of $1.50 and a 52 week high of $11.03. The stock has a market cap of $16.92 million, a price-to-earnings ratio of -0.03 and a beta of 1.08. The stock’s 50-day moving average is $3.68 and its 200-day moving average is $6.30.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Monday, November 9th. The company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.46). Vivid Seats had a negative net margin of 60.26% and a negative return on equity of 211.26%. Equities research analysts forecast that Vivid Seats will post -4.42 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC bought a new stake in Vivid Seats during the 2nd quarter worth about $68,000. Bank of America Corp DE lifted its position in Vivid Seats by 40.2% during the 1st quarter. Bank of America Corp DE now owns 94,489 shares of the company’s stock valued at $558,000 after purchasing an additional 27,088 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Vivid Seats by 96.8% during the 1st quarter. Quantinno Capital Management LP now owns 128,401 shares of the company’s stock valued at $759,000 after purchasing an additional 63,161 shares during the period. 39.92% of the stock is currently owned by institutional investors and hedge funds.

About Vivid Seats

Vivid Seats Inc (NASDAQ: SEAT) operates an online marketplace that connects fans with ticket sellers for live entertainment and sporting events. Through its website and mobile applications, the company offers tickets to concerts, professional and college sports, theater productions, comedy shows and other events.

The platform is designed to support the full ticket-buying process, including event discovery, ticket selection and digital delivery. Vivid Seats also provides tools and services for ticket sellers and event organizers, while its Vivid Seats Rewards program is intended to encourage repeat purchases through customer benefits.

Founded in 2011, Vivid Seats is headquartered in Chicago and primarily serves customers in the United States and Canada.