Vivid Seats (NASDAQ:SEAT) Trading Down 4.8% Following Analyst Downgrade

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report)'s share price dropped 4.8% on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $4.50 to $4.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Vivid Seats traded as low as $3.92 and last traded at $3.93. Approximately 81,557 shares traded hands during trading, a decline of 94% from the average daily volume of 1,386,498 shares. The stock had previously closed at $4.13.

A number of other research analysts also recently commented on SEAT. Piper Sandler lowered their target price on Vivid Seats from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Benchmark lowered their price objective on shares of Vivid Seats from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, September 10th. DA Davidson reduced their target price on shares of Vivid Seats from $6.50 to $6.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. Canaccord Genuity Group dropped their price target on Vivid Seats from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Thursday, September 12th. Finally, Citigroup reduced their price objective on Vivid Seats from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Vivid Seats presently has a consensus rating of "Moderate Buy" and an average target price of $7.11.

Institutional Trading of Vivid Seats

Several institutional investors and hedge funds have recently made changes to their positions in SEAT. Harbor Capital Advisors Inc. increased its holdings in Vivid Seats by 180.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company's stock worth $9,670,000 after purchasing an additional 1,680,327 shares during the period. Invenomic Capital Management LP grew its holdings in Vivid Seats by 289.4% in the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company's stock worth $9,220,000 after purchasing an additional 1,143,870 shares during the last quarter. Anson Funds Management LP lifted its holdings in shares of Vivid Seats by 66.5% during the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company's stock valued at $16,146,000 after purchasing an additional 1,076,271 shares during the last quarter. First Sabrepoint Capital Management LP acquired a new stake in Vivid Seats in the first quarter worth about $5,690,000. Finally, Vanguard Group Inc. boosted its stake in Vivid Seats by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company's stock worth $25,976,000 after purchasing an additional 410,243 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors.

Vivid Seats Stock Down 3.4 %

The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48. The company's 50 day moving average price is $4.04 and its 200 day moving average price is $4.74. The firm has a market capitalization of $830.25 million, a price-to-earnings ratio of 7.40, a P/E/G ratio of 16.55 and a beta of 1.18.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The firm had revenue of $198.32 million during the quarter, compared to analysts' expectations of $194.68 million. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, research analysts forecast that Vivid Seats Inc. will post 0.14 earnings per share for the current fiscal year.

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.