Vivid Seats (NASDAQ:SEAT) Posts Earnings Results

Vivid Seats (NASDAQ:SEAT) announced its earnings results on Tuesday. The company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.28), Zacks reports. Vivid Seats had a positive return on equity of 68.65% and a negative net margin of 82.25%.

Vivid Seats Trading Up 3.4%

Shares of SEAT opened at $7.96 on Tuesday. The company has a market capitalization of $85.73 million, a price-to-earnings ratio of -0.11 and a beta of 1.08. The stock has a 50 day moving average of $7.60 and a 200 day moving average of $7.13. Vivid Seats has a 12 month low of $5.06 and a 12 month high of $35.00.

Institutional Trading of Vivid Seats

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in Vivid Seats by 106.8% during the 2nd quarter. Rhumbline Advisers now owns 203,271 shares of the company’s stock worth $344,000 after purchasing an additional 104,972 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Vivid Seats during the 2nd quarter valued at $43,000. First Trust Advisors LP lifted its stake in Vivid Seats by 2.7% during the second 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. Jump Financial LLC bought a new stake in Vivid Seats in the 2nd quarter worth approximately $32,000. Finally, Caption Management LLC grew its holdings in shares of Vivid Seats by 1,470.9% during the 2nd quarter. Caption Management LLC now owns 250,472 shares of the company’s stock valued at $423,000 after purchasing an additional 234,528 shares during the last quarter. Institutional investors own 39.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SEAT shares. Wall Street Zen raised Vivid Seats from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Vivid Seats in a research note on Tuesday, June 9th. Finally, Zacks Research raised shares of Vivid Seats from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.43.

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.