Vivid Seats (NASDAQ:SEAT) Trading Down 6.4%

Shares of Vivid Seats Inc. (NASDAQ:SEAT) were down 6.4% on Monday . The stock traded as low as $5.34 and last traded at $5.38. Approximately 965,358 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,448,553 shares. The stock had previously closed at $5.75.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a report on Wednesday, May 1st. Maxim Group increased their price objective on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Canaccord Genuity Group reduced their price objective on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Royal Bank of Canada cut their price target on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 6th. Finally, DA Davidson restated a “buy” rating and set a $7.00 price objective on shares of Vivid Seats in a research note on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.86.

Vivid Seats Stock Down 7.7 %

The company’s 50-day moving average is $5.34 and its 200 day moving average is $5.72. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.57 and a quick ratio of 0.51.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $190.85 million for the quarter, compared to analyst estimates of $181.56 million. Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. Analysts expect that Vivid Seats Inc. will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its holdings in shares of Vivid Seats by 259.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock valued at $124,000 after purchasing an additional 14,927 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Vivid Seats by 19.8% in the first quarter. California State Teachers Retirement System now owns 67,612 shares of the company’s stock worth $405,000 after acquiring an additional 11,188 shares during the period. Invenomic Capital Management LP boosted its stake in shares of Vivid Seats by 289.4% during the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock worth $9,220,000 after acquiring an additional 1,143,870 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Vivid Seats by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after acquiring an additional 273,734 shares in the last quarter. Finally, First Sabrepoint Capital Management LP acquired a new stake in shares of Vivid Seats during the 1st quarter valued at about $5,690,000. 39.92% of the stock is currently owned by institutional investors and hedge funds.

Vivid Seats Company Profile

Vivid Seats Inc operates an online ticket marketplace in the United States, Canada, and Japan. 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 sports, concerts, theater events, and other live events.