Vivid Seats (NASDAQ:SEAT) Shares Gap Down – What’s Next?

Shares of Vivid Seats Inc. (NASDAQ:SEAT) gapped down before the market opened on Thursday . The stock had previously closed at $4.11, but opened at $3.81. Vivid Seats shares last traded at $3.76, with a volume of 145,833 shares trading hands.

Wall Street Analysts Forecast Growth

SEAT has been the topic of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $4.00 price target (down from $5.00) on shares of Vivid Seats in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Maxim Group decreased their target price on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 4th. DA Davidson reduced their price target on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Citigroup lowered their price objective on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vivid Seats has an average rating of “Moderate Buy” and a consensus price target of $6.78.

Vivid Seats Stock Performance

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 stock has a market capitalization of $743.89 million, a PE ratio of 7.47, a PEG ratio of 17.60 and a beta of 1.18. The firm has a 50 day moving average price of $3.97 and a 200-day moving average price of $4.69.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly 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). The business had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. During the same period in the prior year, the business posted $0.20 earnings per share. Research analysts expect that Vivid Seats Inc. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its stake in shares of Vivid Seats by 180.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after buying an additional 1,680,327 shares during the last quarter. Invenomic Capital Management LP raised its position in Vivid Seats by 289.4% during the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after acquiring an additional 1,143,870 shares in the last quarter. Anson Funds Management LP lifted its holdings in Vivid Seats by 66.5% in the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after acquiring an additional 1,076,271 shares during the period. First Sabrepoint Capital Management LP purchased a new stake in Vivid Seats in the 1st quarter worth approximately $5,690,000. Finally, Vanguard Group Inc. grew 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 purchasing an additional 410,243 shares during the period. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.