Vivid Seats (NASDAQ:SEAT) Announces Quarterly Earnings Results

Vivid Seats (NASDAQ:SEAT) issued its quarterly earnings data on Thursday. The company reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.23), Zacks reports. Vivid Seats had a positive return on equity of 8.93% and a negative net margin of 20.35%.The business had revenue of $136.37 million for the quarter, compared to analysts’ expectations of $131.38 million.

Vivid Seats Price Performance

NASDAQ:SEAT traded down $0.01 during trading hours on Friday, hitting $10.55. The company’s stock had a trading volume of 146,132 shares, compared to its average volume of 112,192. Vivid Seats has a 52-week low of $9.00 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.63 and a current ratio of 0.72. The business’s 50-day moving average is $14.32 and its two-hundred day moving average is $27.10. The company has a market capitalization of $108.71 million, a PE ratio of 1.95, a PEG ratio of 2.16 and a beta of 0.87.

Hedge Funds Weigh In On Vivid Seats

A number of large investors have recently made changes to their positions in the stock. Jump Financial LLC acquired a new stake in shares of Vivid Seats in the second quarter valued at about $32,000. Raymond James Financial Inc. purchased a new position in Vivid Seats in the second quarter valued at about $35,000. Rangeley Capital LLC acquired a new stake in shares of Vivid Seats during the 2nd quarter valued at approximately $42,000. Quantbot Technologies LP acquired a new stake in shares of Vivid Seats during the 2nd quarter valued at approximately $43,000. Finally, Rhumbline Advisers boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SEAT. Royal Bank Of Canada set a $12.00 price target on Vivid Seats and gave the company a “sector perform” rating in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Vivid Seats in a report on Wednesday, October 8th. Canaccord Genuity Group cut their price target on Vivid Seats from $23.00 to $12.00 and set a “hold” rating for the company in a research note on Friday. Benchmark reiterated a “buy” rating and issued a $18.00 price objective (down from $26.00) on shares of Vivid Seats in a research report on Friday. Finally, Citigroup downgraded shares of Vivid Seats from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $13.00 in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

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.