Vivid Seats (NASDAQ:SEAT) PT Lowered to $5.00 at Piper Sandler

Vivid Seats (NASDAQ:SEAT) had its price target trimmed by Piper Sandler from $7.00 to $5.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Maxim Group upped their price objective on shares of Vivid Seats from $7.00 to $9.00 and gave the stock a buy rating in a report on Wednesday, May 8th. DA Davidson restated a buy rating and set a $7.00 price objective on shares of Vivid Seats in a report on Friday, June 21st. Canaccord Genuity Group lowered their price objective on shares of Vivid Seats from $12.00 to $10.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Finally, Benchmark restated a buy rating and set a $15.00 price objective on shares of Vivid Seats in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $9.00.

Vivid Seats Trading Down 4.9 %

Shares of NASDAQ:SEAT traded down $0.19 during trading on Wednesday, reaching $3.66. The stock had a trading volume of 1,780,274 shares, compared to its average volume of 1,462,586. The firm’s fifty day moving average is $5.14 and its 200 day moving average is $5.47. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.51 and a current ratio of 0.57. Vivid Seats has a 52 week low of $3.64 and a 52 week high of $8.80. The stock has a market cap of $760.01 million, a price-to-earnings ratio of 7.80, a P/E/G ratio of 2.84 and a beta of 1.23.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Vivid Seats had a net margin of 9.21% and a negative return on equity of 170.34%. The company had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. During the same quarter in the previous year, the firm earned $0.20 EPS. As a group, equities analysts forecast that Vivid Seats will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its position in Vivid Seats by 1.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,371,128 shares of the company’s stock valued at $25,134,000 after buying an additional 77,983 shares during the period. Vanguard Group Inc. grew its position in Vivid Seats by 10.4% during the first quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after buying an additional 410,243 shares during the period. Boston Partners grew its position in Vivid Seats by 118.3% during the fourth quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after buying an additional 1,949,891 shares during the period. Janus Henderson Group PLC grew its position in Vivid Seats by 10.1% during the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock valued at $17,849,000 after buying an additional 273,734 shares during the period. Finally, Anson Funds Management LP grew its position in Vivid Seats by 66.5% during the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after buying an additional 1,076,271 shares during the period. Institutional investors own 39.92% of the company’s stock.

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.