Vivid Seats (NASDAQ:SEAT) Stock Price Down 4.3% – Should You Sell?

Vivid Seats Inc. (NASDAQ:SEAT)’s share price dropped 4.3% on Wednesday . The stock traded as low as $4.31 and last traded at $4.35. Approximately 159,085 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,058,542 shares. The stock had previously closed at $4.54.

Wall Street Analyst Weigh In

Several research firms have issued reports on SEAT. Royal Bank of Canada cut their target price on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Bank of America reaffirmed a “buy” rating and issued a $6.25 target price on shares of Vivid Seats in a research report on Tuesday, December 31st. Piper Sandler reaffirmed a “neutral” rating and set a $4.00 target price (down previously from $5.00) on shares of Vivid Seats in a research note on Friday, November 8th. Finally, Maxim Group reduced their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vivid Seats presently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

Vivid Seats Stock Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The business has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $4.12.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $186.61 million during the quarter, compared to analysts’ expectations of $186.61 million. Vivid Seats had a net margin of 4.56% and a return on equity of 21.29%. During the same quarter in the previous year, the business posted $0.07 EPS. Analysts predict that Vivid Seats Inc. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEAT. Oppenheimer & Co. Inc. purchased a new stake in shares of Vivid Seats during the 3rd quarter worth approximately $37,000. Stratos Wealth Partners LTD. acquired a new position in Vivid Seats in the fourth quarter valued at $46,000. Stoneridge Investment Partners LLC acquired a new position in Vivid Seats in the fourth quarter valued at $53,000. Marshall Wace LLP acquired a new stake in shares of Vivid Seats during the second quarter worth about $67,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Vivid Seats during the third quarter worth about $87,000. 39.92% of the stock is owned by institutional investors and hedge funds.

About Vivid Seats

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.