Vivid Seats (NASDAQ:SEAT) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Vivid Seats (NASDAQ:SEAT) from a sell rating to a hold rating in a report published on Saturday morning.

Other equities analysts have also issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Vivid Seats in a research note on Tuesday, June 9th. Benchmark increased their target price on Vivid Seats from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $9.25 target price on Vivid Seats and gave the company an “equal weight” rating in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 price target (up from $8.00) on shares of Vivid Seats in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.21.

Vivid Seats Trading Up 0.3%

NASDAQ SEAT opened at $7.18 on Friday. Vivid Seats has a 1 year low of $5.06 and a 1 year high of $18.73. The company has a fifty day simple moving average of $7.42 and a 200 day simple moving average of $7.20. The company has a market cap of $77.33 million, a P/E ratio of -0.16 and a beta of 1.08.

Vivid Seats (NASDAQ:SEAT) last announced its earnings results on Tuesday, August 4th. The company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.28). Vivid Seats had a negative return on equity of 211.26% and a negative net margin of 60.26%.The firm had revenue of $129.86 million during the quarter, compared to the consensus estimate of $122.11 million. Equities research analysts forecast that Vivid Seats will post -4.44 EPS for the current fiscal year.

Institutional Trading of Vivid Seats

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of 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 acquiring an additional 104,972 shares during the period. Quantbot Technologies LP bought a new stake in Vivid Seats in the second quarter valued at about $43,000. First Trust Advisors LP raised its position in Vivid Seats by 2.7% in 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 in the last quarter. Jump Financial LLC acquired a new position in Vivid Seats in the second quarter worth about $32,000. Finally, Caption Management LLC lifted its stake in 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 purchasing an additional 234,528 shares during the period. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Company Profile

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.