Vivid Seats (NASDAQ:SEAT) Announces Earnings Results

Vivid Seats (NASDAQ:SEAT) issued its earnings results on Thursday. The company reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.23), Zacks reports. The firm had revenue of $136.37 million during the quarter, compared to analysts’ expectations of $131.38 million. Vivid Seats had a positive return on equity of 8.93% and a negative net margin of 20.35%.

Vivid Seats Stock Down 0.1%

SEAT traded down $0.01 during trading on Friday, hitting $10.55. The stock had a trading volume of 146,132 shares, compared to its average volume of 112,192. The stock has a 50 day simple moving average of $14.32 and a two-hundred day simple moving average of $27.10. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.63 and a current ratio of 0.72. Vivid Seats has a twelve month low of $9.00 and a twelve month high of $100.00. The company has a market capitalization of $108.71 million, a PE ratio of 1.95, a PEG ratio of 2.16 and a beta of 0.87.

Institutional Trading of Vivid Seats

A number of institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its position in Vivid Seats by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company’s stock valued at $3,756,000 after buying an additional 215,057 shares in the last quarter. Caption Management LLC grew its stake in shares of Vivid Seats by 1,470.9% during the second quarter. Caption Management LLC now owns 250,472 shares of the company’s stock worth $423,000 after acquiring an additional 234,528 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Vivid Seats by 2.7% during the second quarter. First Trust Advisors LP now owns 297,688 shares of the company’s stock valued at $503,000 after acquiring an additional 7,940 shares in the last quarter. Rhumbline Advisers raised its position in shares of 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 purchasing an additional 104,972 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Vivid Seats in the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

Analyst Upgrades and Downgrades

SEAT has been the subject of several recent research reports. Canaccord Genuity Group decreased their price objective on Vivid Seats from $23.00 to $12.00 and set a “hold” rating for the company in a report on Friday. Royal Bank Of Canada set a $12.00 price target on shares of Vivid Seats and gave the company a “sector perform” rating in a report on Friday. Craig Hallum set a $2.00 price objective on shares of Vivid Seats in a research note on Tuesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vivid Seats in a research note on Wednesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $18.00 target price (down previously from $26.00) on shares of Vivid Seats in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.00.

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.