In yesterday’s Wall Street session, Vivid Seats Inc. (NASDAQ:SEAT) shares traded at $7.89, up 18.04% from the previous session.
As of this writing, 9 analysts cover Vivid Seats Inc. (NASDAQ:SEAT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $8.00, we find $10.50. Given the previous closing price of $6.68, this indicates a potential upside of 57.19 percent. SEAT stock price is now -0.77% away from the 50-day moving average and -2.73% away from the 200-day moving average. The market capitalization of the company currently stands at $1.66B.
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There are 4 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $11.63 as their price target over the next twelve months.
With the price target of $9, Deutsche Bank recently initiated with Hold rating for Vivid Seats Inc. (NASDAQ: SEAT). On August 29, 2022, RBC Capital Mkts recently initiated its ‘Sector Perform’ rating on the stock quoting a target price of $10.50, while ‘Piper Sandler’ rates the stock as ‘Neutral’.
In other news, Wagner Jonathan Miles, Chief Technology Officer sold 2,124 shares of the company’s stock on Jan 20. The stock was sold for $16,737 at an average price of $7.88. Upon completion of the transaction, the Chief Technology Officer now directly owns 21,607 shares in the company, valued at $0.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 20, Chief Strategy Officer Bakal Riva sold 1,341 shares of the business’s stock. A total of $10,567 was realized by selling the stock at an average price of $7.88. This leaves the insider owning 13,151 shares of the company worth $0.1 million. Insiders disposed of 23,930,874 shares of company stock worth roughly $188.81 million over the past 1 year. A total of 12.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SEAT stock. A new stake in Vivid Seats Inc. shares was purchased by LMR PARTNERS LLP during the first quarter worth $8,452,000. INVENOMIC CAPITAL MANAGEMENT LP invested $4,375,000 in shares of SEAT during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Vivid Seats Inc. valued at approximately $1,470,000. ERGOTELES LLC acquired a new stake in SEAT for approximately $1,028,000. CENTERBOOK PARTNERS LP purchased a new stake in SEAT valued at around $486,000 in the second quarter. In total, there are 129 active investors with 82.30% ownership of the company’s stock.
Tuesday morning saw Vivid Seats Inc. (NASDAQ: SEAT) opened at $6.29. During the past 12 months, Vivid Seats Inc. has had a low of $6.47 and a high of $12.31. The fifty day moving average price for SEAT is $7.95 and a two-hundred day moving average price translates $8.11 for the stock.
The latest earnings results from Vivid Seats Inc. (NASDAQ: SEAT) was released for Sep, 2022. According to the Internet Content & Information Company, earnings per share came in at $0.09, missing analysts’ expectations of $0.11 by -0.02. This compares to -$0.01 EPS in the same period last year. The net profit margin was 5.80% and return on equity was -5.40% for SEAT. The company reported revenue of $156.82 million for the quarter, compared to $139.54 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.38 percent. For the current quarter, analysts expect SEAT to generate $154.51M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/02/2021. Investors who held shares on 10/29/2021 were paid a $0.23 dividend.
Vivid Seats Inc.(SEAT) Company Profile
Vivid Seats Inc. operates as an online secondary marketplace for tickets in the United States and Canada. 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 live sports, concerts, and theater shows, and other live events. This segment offers Skybox, a proprietary enterprise resource planning tool that helps ticket sellers manage ticket inventories, adjust pricing, and fulfill orders across multiple ticket resale marketplaces. The Resale segment acquires tickets to resell on secondary ticket marketplaces; and provides internal research and development support for Skybox and to deliver seller software and tools. The company was founded in 2001 and is headquartered in Chicago, Illinois.
