Vivid Seats (NASDAQ:SEAT) Shares Up 3.2% – Should You Buy?

Vivid Seats Inc. (NASDAQ:SEAT) shot up 3.2% during mid-day trading on Thursday . The stock traded as high as $9.55 and last traded at $9.00. 64,743 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 91,728 shares. The stock had previously closed at $8.72.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SEAT. Morgan Stanley set a $7.75 price target on shares of Vivid Seats in a report on Wednesday, May 6th. Canaccord Genuity Group set a $10.00 price target on shares of Vivid Seats and gave the stock a “hold” rating in a report on Friday, March 13th. Craig Hallum raised shares of Vivid Seats from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, March 13th. Benchmark cut their price target on shares of Vivid Seats from $18.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Scotiabank set a $10.00 price target on shares of Vivid Seats in a report on Friday, March 13th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.27.

Vivid Seats Stock Down 4.7%

The stock’s fifty day moving average is $7.60 and its two-hundred day moving average is $7.10. The company has a current ratio of 0.66, a quick ratio of 0.58 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $92.37 million, a PE ratio of -0.12 and a beta of 1.08.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.32). The business had revenue of $125.78 million for the quarter, compared to analysts’ expectations of $124.55 million. Vivid Seats had a negative net margin of 82.25% and a positive return on equity of 68.65%. As a group, analysts predict that Vivid Seats Inc. will post -4.16 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

Several institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its holdings in Vivid Seats by 270.0% during the fourth quarter. Deutsche Bank AG now owns 10,774 shares of the company’s stock valued at $78,000 after purchasing an additional 7,862 shares during the last quarter. First Trust Advisors LP lifted its holdings in 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 purchasing an additional 7,940 shares during the last quarter. Jain Global LLC purchased a new stake in Vivid Seats during the fourth quarter valued at about $97,000. Goldman Sachs Group Inc. lifted its holdings in Vivid Seats by 44.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 51,842 shares of the company’s stock valued at $374,000 after purchasing an additional 15,848 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Vivid Seats in the fourth quarter worth about $135,000. 39.92% of the stock is owned by hedge funds and other institutional investors.

About Vivid Seats

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.