Vivid Seats Inc. (NASDAQ:SEAT) Short Interest Down 13.7% in May

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 10,420,000 shares, a drop of 13.7% from the April 30th total of 12,070,000 shares. Currently, 15.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,060,000 shares, the short-interest ratio is currently 5.1 days.

Vivid Seats Trading Up 4.0%

SEAT traded up $0.07 during midday trading on Friday, reaching $1.71. 499,958 shares of the company were exchanged, compared to its average volume of 1,472,103. Vivid Seats has a one year low of $1.44 and a one year high of $5.90. The stock's 50-day simple moving average is $2.27 and its 200 day simple moving average is $3.34. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $164.02 million during the quarter, compared to the consensus estimate of $169.99 million. Vivid Seats had a net margin of 4.56% and a return on equity of 21.29%. As a group, equities analysts forecast that Vivid Seats will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Benchmark lowered their price target on shares of Vivid Seats from $6.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Maxim Group dropped their price objective on shares of Vivid Seats from $5.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada decreased their price objective on Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th. Finally, Bank of America reissued an "underperform" rating and issued a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $4.49.

Insider Transactions at Vivid Seats

In other news, General Counsel Emily T. Epstein sold 14,476 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1.99, for a total transaction of $28,807.24. Following the sale, the general counsel now owns 151,194 shares in the company, valued at approximately $300,876.06. This represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 16,138 shares of company stock valued at $33,201. Corporate insiders own 57.20% of the company's stock.

Institutional Trading of Vivid Seats

Several hedge funds have recently added to or reduced their stakes in SEAT. Stratos Wealth Partners LTD. acquired a new stake in shares of Vivid Seats during the fourth quarter worth about $46,000. Quinn Opportunity Partners LLC bought a new stake in Vivid Seats during the 4th quarter worth approximately $46,000. Stoneridge Investment Partners LLC bought a new stake in Vivid Seats during the 4th quarter worth approximately $53,000. BNP Paribas Financial Markets acquired a new stake in Vivid Seats during the 4th quarter worth approximately $53,000. Finally, Pictet Asset Management Holding SA bought a new position in Vivid Seats in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 39.92% of the company's stock.

Vivid Seats Company Profile

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.