Vivid Seats (NASDAQ:SEAT) Releases Earnings Results, Misses Estimates By $0.28 EPS

Key Points

• Vivid Seats reported a quarterly loss of $1.30 per share, missing the consensus estimate of a $1.02 loss by $0.28. The company posted a negative net margin of 82.25% and a positive return on equity of 68.65%.
• Shares rose 3.4% to open at $7.96, compared with a 52-week range of $5.06 to $35.00. The stock’s consensus analyst rating is “Hold”, with an average price target of $9.43.
• Institutional investors own nearly 40% of SEAT, with several funds increasing their positions during the second quarter, including Caption Management, which expanded its stake by more than 1,470%.

Vivid Seats (NASDAQ:SEAT - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.28), Zacks reports. Vivid Seats had a negative net margin of 82.25% and a positive return on equity of 68.65%.

Vivid Seats Stock Up 3.4%

Shares of SEAT opened at $7.96 on Tuesday. Vivid Seats has a twelve month low of $5.06 and a twelve month high of $35.00. The company has a 50 day moving average of $7.60 and a 200-day moving average of $7.13. The stock has a market capitalization of $85.73 million, a P/E ratio of -0.11 and a beta of 1.08.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SEAT. Morgan Stanley set a $9.25 price target on Vivid Seats and gave the company an "equal weight" rating in a report on Wednesday, June 10th. Weiss Ratings reissued a "sell (e+)" rating on shares of Vivid Seats in a report on Tuesday, June 9th. Zacks Research upgraded shares of Vivid Seats from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. Finally, Wall Street Zen raised shares of Vivid Seats from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Vivid Seats presently has a consensus rating of "Hold" and a consensus price target of $9.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SEAT. Rhumbline Advisers raised its holdings in Vivid Seats by 106.8% in the 2nd quarter. Rhumbline Advisers now owns 203,271 shares of the company's stock valued at $344,000 after acquiring an additional 104,972 shares during the period. Quantbot Technologies LP bought a new stake in shares of Vivid Seats during the second quarter worth approximately $43,000. First Trust Advisors LP grew its position in shares of Vivid Seats by 2.7% in the second quarter. First Trust Advisors LP now owns 297,688 shares of the company's stock valued at $503,000 after purchasing an additional 7,940 shares during the last quarter. Jump Financial LLC acquired a new position in Vivid Seats in the 2nd quarter valued at $32,000. Finally, Caption Management LLC grew its stake in shares of Vivid Seats by 1,470.9% in the second quarter. Caption Management LLC now owns 250,472 shares of the company's stock valued at $423,000 after acquiring an additional 234,528 shares in the last quarter. Institutional investors own 39.92% of the company's stock.

About Vivid Seats

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America's leading ticket marketplaces.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.