Vivid Seats Target of Unusually Large Options Trading (NASDAQ:SEAT)

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) was the recipient of some unusual options trading on Wednesday. Investors purchased 4,062 call options on the company. This represents an increase of approximately 119% compared to the typical daily volume of 1,853 call options.

Hedge Funds Weigh In On Vivid Seats

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

Vivid Seats Price Performance

Shares of SEAT traded up $0.19 during mid-day trading on Monday, reaching $1.98. The company had a trading volume of 2,168,325 shares, compared to its average volume of 1,467,729. Vivid Seats has a twelve month low of $1.66 and a twelve month high of $5.90. The company's 50-day moving average is $2.78 and its 200-day moving average is $3.61. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share (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 analyst estimates of $169.99 million. Vivid Seats had a net margin of 4.56% and a return on equity of 21.29%. On average, research analysts anticipate that Vivid Seats will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SEAT shares. Morgan Stanley cut their price objective on 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. Canaccord Genuity Group decreased their target price on Vivid Seats from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Benchmark reduced their target price on Vivid Seats from $6.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada lowered their target price on Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Finally, Bank of America restated an "underperform" rating and set a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vivid Seats presently has a consensus rating of "Hold" and a consensus price target of $4.49.

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.