Equities research analysts at Craig Hallum initiated coverage on shares of Vivid Seats (NASDAQ:SEAT – Get Free Report) in a report released on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Craig Hallum’s price target points to a potential upside of 80.83% from the company’s current price.
Vivid Seats Price Performance
Shares of NASDAQ:SEAT opened at $5.53 on Friday. Vivid Seats has a 1 year low of $5.42 and a 1 year high of $9.89. The business has a 50 day simple moving average of $6.33 and a two-hundred day simple moving average of $6.78. The firm has a market capitalization of $1.09 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20.
Vivid Seats (NASDAQ:SEAT – Get Free Report) last announced its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Vivid Seats had a negative return on equity of 19.99% and a net margin of 8.78%. The business had revenue of $188.13 million during the quarter, compared to analyst estimates of $154.20 million. Equities research analysts expect that Vivid Seats will post 0.42 EPS for the current fiscal year.
Insider Activity
In other news, major shareholder Hoya Topco, Llc sold 23,575,000 shares of Vivid Seats stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $6.24, for a total transaction of $147,108,000.00. Following the completion of the sale, the insider now owns 82,225,000 shares of the company’s stock, valued at $513,084,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 23,584,776 shares of company stock valued at $147,170,899. Corporate insiders own 85.66% of the company’s stock.
Institutional Trading of Vivid Seats
Several institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in Vivid Seats by 13.9% in the fourth quarter. Legal & General Group Plc now owns 9,944 shares of the company’s stock worth $73,000 after buying an additional 1,217 shares in the last quarter. D.A. Davidson & CO. raised its stake in Vivid Seats by 4.3% in the third quarter. D.A. Davidson & CO. now owns 35,975 shares of the company’s stock worth $231,000 after buying an additional 1,475 shares in the last quarter. Royal Bank of Canada grew its holdings in Vivid Seats by 24.1% in the second quarter. Royal Bank of Canada now owns 8,177 shares of the company’s stock worth $64,000 after purchasing an additional 1,586 shares during the last quarter. Rhumbline Advisers grew its holdings in Vivid Seats by 4.6% in the first quarter. Rhumbline Advisers now owns 39,746 shares of the company’s stock worth $303,000 after purchasing an additional 1,735 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Vivid Seats by 9.0% in the fourth quarter. JPMorgan Chase & Co. now owns 24,967 shares of the company’s stock worth $182,000 after purchasing an additional 2,070 shares during the last quarter. Institutional investors own 39.92% of the company’s stock.
Vivid Seats 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 sports, concerts, and theater shows, and other live events.
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