Vivid Seats (NASDAQ:SEAT) Sees Strong Trading Volume Following Analyst Upgrade

Key Points

• Vivid Seats' shares experienced a 47% increase in trading volume following an upgrade by Benchmark, which raised the price target to $26.00 and maintains a buy rating on the stock.
• Despite the upgrade, some brokerages have lowered their target prices, with estimates ranging from $2.00 to $60.00, indicating mixed market sentiment toward Vivid Seats.
• In a recent earnings report, Vivid Seats posted an earnings per share (EPS) of $0.28, surpassing analyst expectations while experiencing a negative net margin of 20.35%.

Shares of Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) saw unusually-high trading volume on Thursday after Benchmark raised their price target on the stock to $26.00. Benchmark currently has a buy rating on the stock. Approximately 132,577 shares traded hands during mid-day trading, an increase of 47% from the previous session's volume of 90,142 shares.The stock last traded at $19.74 and had previously closed at $25.68.

A number of other brokerages have also recently commented on SEAT. Craig Hallum set a $2.00 target price on shares of Vivid Seats in a research report on Tuesday. William Blair cut shares of Vivid Seats from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada dropped their price objective on shares of Vivid Seats from $80.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 7th. Maxim Group dropped their target price on shares of Vivid Seats from $100.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $23.00 target price (down previously from $80.00) on shares of Vivid Seats in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Vivid Seats has a consensus rating of "Hold" and a consensus price target of $67.09.

Insider Buying and Selling

In other Vivid Seats news, General Counsel Emily T. Epstein sold 723 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were 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 represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 89.16% of the company's stock.

Institutional Trading of Vivid Seats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in Vivid Seats by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company's stock valued at $136,000 after acquiring an additional 4,288 shares in the last quarter. MetLife Investment Management LLC lifted its position in Vivid Seats by 21.0% during the first quarter. MetLife Investment Management LLC now owns 45,279 shares of the company's stock valued at $134,000 after purchasing an additional 7,866 shares during the last quarter. American Century Companies Inc. lifted its position in Vivid Seats by 9.6% during the fourth quarter. American Century Companies Inc. now owns 96,396 shares of the company's stock valued at $446,000 after purchasing an additional 8,450 shares during the last quarter. Quinn Opportunity Partners LLC bought a new stake in shares of Vivid Seats in the 4th quarter worth about $46,000. Finally, Equitable Trust Co. lifted its holdings in shares of Vivid Seats by 6.9% in the 2nd quarter. Equitable Trust Co. now owns 167,060 shares of the company's stock worth $282,000 after acquiring an additional 10,800 shares during the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

Vivid Seats Price Performance

The company's fifty day moving average price is $34.16 and its 200-day moving average price is $53.74. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 1.01.

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

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.

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