Vivid Seats’ (SEAT) “Buy” Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Vivid Seats (NASDAQ:SEAT) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

Other analysts also recently issued reports about the company. DA Davidson reaffirmed a buy rating and set a $7.00 price objective on shares of Vivid Seats in a research note on Friday, June 21st. Maxim Group upped their price objective on Vivid Seats from $7.00 to $9.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group reduced their price objective on Vivid Seats from $12.00 to $10.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $9.89.

Vivid Seats Stock Down 5.2 %

Shares of NASDAQ SEAT opened at $4.38 on Tuesday. The stock has a market cap of $909.51 million, a PE ratio of 8.87, a price-to-earnings-growth ratio of 3.00 and a beta of 1.23. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 1.89. Vivid Seats has a 52-week low of $4.38 and a 52-week high of $8.80. The business has a 50-day moving average price of $5.26 and a 200 day moving average price of $5.55.

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

Hedge Funds Weigh In On Vivid Seats

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Vivid Seats by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after buying an additional 410,243 shares in the last quarter. Boston Partners raised its stake in shares of Vivid Seats by 118.3% during the 4th quarter. Boston Partners now owns 3,597,970 shares of the company’s stock worth $22,626,000 after buying an additional 1,949,891 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Vivid Seats by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after buying an additional 273,734 shares in the last quarter. Anson Funds Management LP raised its stake 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 worth $16,146,000 after buying an additional 1,076,271 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Vivid Seats by 17.6% during the 1st quarter. Clearbridge Investments LLC now owns 2,012,878 shares of the company’s stock worth $12,057,000 after buying an additional 301,623 shares in the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.