Vivid Seats (NASDAQ:SEAT) Rating Lowered to "Hold" at Craig Hallum

Key Points

• Vivid Seats has been downgraded from a "buy" to a "hold" rating by Craig Hallum, with a new price target set at $2.00, implying a potential upside of 97.04% from the previous close.
• Benchmark and other analysts have also reduced their price targets, with a consensus average target price of $3.94 and an overall rating of "Hold" for the stock.
• The company reported a loss of ($0.05) earnings per share for the latest quarter, missing forecasts, and had revenues of $164.02 million, below analyst expectations.

Vivid Seats (NASDAQ:SEAT - Get Free Report) was downgraded by equities research analysts at Craig Hallum from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

A number of other equities research analysts also recently issued reports on SEAT. Benchmark cut their target price on shares of Vivid Seats from $120.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Maxim Group cut their price objective on Vivid Seats from $100.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. William Blair downgraded Vivid Seats from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada cut their price target on Vivid Seats from $80.00 to $40.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group lowered their price target on Vivid Seats from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $67.09.

Vivid Seats Stock Up 25.9%

Shares of Vivid Seats stock opened at $25.68 on Tuesday. Vivid Seats has a 1 year low of $19.58 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.77 and a quick ratio of 0.70. The stock has a 50-day moving average price of $34.16 and a 200 day moving average price of $53.74.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.32. The company had revenue of $143.57 million for the quarter, compared to the consensus estimate of $154.31 million. Vivid Seats had a positive return on equity of 8.20% and a negative net margin of 20.35%. On average, research analysts expect that Vivid Seats will post 0.12 EPS for the current year.

Insider Transactions at Vivid Seats

In related news, General Counsel Emily T. Epstein sold 723 shares of Vivid Seats stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.80, for a total transaction of $28,775.40. Following the completion of the sale, the general counsel directly owned 7,559 shares of the company's stock, valued at approximately $300,848.20. This trade represents a 8.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 89.16% of the company's stock.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds have recently added to or reduced their stakes in SEAT. Boston Partners boosted its position in shares of Vivid Seats by 152.9% during the 1st quarter. Boston Partners now owns 4,461,831 shares of the company's stock worth $13,202,000 after acquiring an additional 2,697,796 shares in the last quarter. Emeth Value Capital LLC lifted its stake 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 purchasing an additional 1,644,188 shares during the last quarter. Visualize Group LP acquired a new stake in shares of Vivid Seats in the 4th quarter valued at $3,327,000. Anson Funds Management LP increased its stake in shares of Vivid Seats by 88.2% in the 1st quarter. Anson Funds Management LP now owns 1,173,828 shares of the company's stock valued at $3,475,000 after purchasing an additional 550,000 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Vivid Seats by 18.4% in the 4th quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company's stock valued at $9,051,000 after purchasing an additional 303,878 shares during the last quarter. Institutional investors 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.