Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $12.00 at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by Canaccord Genuity Group from $23.00 to $12.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts also recently issued research reports about the stock. Benchmark reiterated a “buy” rating and issued a $18.00 target price (down previously from $26.00) on shares of Vivid Seats in a research note on Friday. 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 report on Thursday, October 23rd. Royal Bank Of Canada set a $12.00 target price on shares of Vivid Seats and gave the company a “sector perform” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivid Seats in a report on Wednesday, October 8th. Finally, Craig Hallum set a $2.00 price target on Vivid Seats in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.50.

Vivid Seats Stock Performance

Shares of SEAT traded down $0.01 during mid-day trading on Friday, hitting $10.55. The 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 current ratio of 0.72 and a quick ratio of 0.63. The business has a fifty day moving average price of $14.32 and a 200-day moving average price of $27.10. The firm has a market cap of $108.71 million, a P/E ratio of 1.95, a PEG ratio of 2.16 and a beta of 0.87.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.23). Vivid Seats had a positive return on equity of 8.93% and a negative net margin of 20.35%.The firm had revenue of $136.37 million during the quarter, compared to analysts’ expectations of $131.38 million. On average, equities research analysts expect that Vivid Seats will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

Institutional investors and hedge funds have recently made changes to their positions in the business. Emeth Value Capital LLC grew its position in Vivid Seats by 27.4% during the second quarter. Emeth Value Capital LLC now owns 7,642,042 shares of the company’s stock worth $12,915,000 after buying an additional 1,644,188 shares in the last quarter. Boston Partners boosted its position in shares of Vivid Seats by 7.2% during the 2nd quarter. Boston Partners now owns 4,784,292 shares of the company’s stock valued at $8,084,000 after acquiring an additional 322,461 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Vivid Seats by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company’s stock worth $3,756,000 after purchasing an additional 215,057 shares in the last quarter. Anson Funds Management LP increased its position in shares of Vivid Seats by 88.2% in the first quarter. Anson Funds Management LP now owns 1,173,828 shares of the company’s stock worth $3,475,000 after purchasing an additional 550,000 shares during the last quarter. Finally, Clearline Capital LP raised its stake in Vivid Seats by 34.9% in the first quarter. Clearline Capital LP now owns 986,937 shares of the company’s stock valued at $2,921,000 after purchasing an additional 255,337 shares in the last quarter. Hedge funds and other 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.