Vivid Seats (NASDAQ:SEAT) Given New $4.00 Price Target at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its target price cut by Canaccord Genuity Group from $5.00 to $4.00 in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on SEAT. Royal Bank of Canada cut their target price on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. William Blair cut Vivid Seats from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Morgan Stanley reduced their target price on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Raymond James cut Vivid Seats from a “moderate buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, Bank of America reaffirmed an “underperform” rating and set a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.49.

Vivid Seats Stock Down 2.2 %

Shares of SEAT opened at $1.79 on Wednesday. Vivid Seats has a 1 year low of $1.66 and a 1 year high of $5.90. 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 stock’s fifty day moving average price is $2.78 and its two-hundred day moving average price is $3.61.

Vivid Seats (NASDAQ:SEAT) last announced its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $164.02 million during the quarter, compared to analysts’ expectations of $169.99 million. Vivid Seats had a net margin of 4.56% and a return on equity of 21.29%. As a group, equities research analysts anticipate that Vivid Seats will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On Vivid Seats

Several institutional investors have recently made changes to their positions in the company. Emeth Value Capital LLC acquired a new stake in Vivid Seats in the 4th quarter worth about $23,250,000. Huber Capital Management LLC acquired a new position in shares of Vivid Seats in the fourth quarter valued at approximately $3,627,000. Visualize Group LP acquired a new stake in shares of Vivid Seats in the fourth quarter valued at $3,327,000. Ameriprise Financial Inc. raised its position in 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 in the last quarter. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of Vivid Seats during the 4th quarter worth $1,158,000. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.