Vivid Seats (NASDAQ:SEAT) Earns Buy Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Vivid Seats (NASDAQ:SEAT) in a research note published on Tuesday, Benzinga reports. They currently have a $15.00 price target on the stock.

Other analysts have also issued reports about the company. Canaccord Genuity Group dropped their target price on Vivid Seats from $12.00 to $10.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Maxim Group upped their target price 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. Finally, DA Davidson reiterated a buy rating and issued a $7.00 price target on shares of Vivid Seats in a research note on Friday, June 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $9.89.

Vivid Seats Stock Down 5.3 %

Shares of NASDAQ SEAT opened at $4.62 on Tuesday. The stock has a fifty day moving average price of $5.27 and a 200 day moving average price of $5.56. The company has a market cap of $959.34 million, a P/E ratio of 8.91, a P/E/G ratio of 3.01 and a beta of 1.22. Vivid Seats has a 12-month low of $4.52 and a 12-month high of $8.80. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 1.89.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $190.85 million during the quarter, compared to analysts’ expectations of $181.56 million. Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. Research analysts anticipate that Vivid Seats will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds have recently modified their holdings of SEAT. Parkside Financial Bank & Trust boosted its stake in Vivid Seats by 84.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after buying an additional 2,090 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Vivid Seats by 301.6% during the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after acquiring an additional 5,594 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Vivid Seats in the fourth quarter valued at $65,000. Principal Financial Group Inc. acquired a new stake in shares of Vivid Seats in the second quarter worth $61,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Vivid Seats by 417.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock valued at $71,000 after buying an additional 9,121 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

About Vivid Seats

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.