Riva Bakal Sells 2,051 Shares of Vivid Seats Inc. (NASDAQ:SEAT) Stock

Vivid Seats Inc. (NASDAQ:SEAT) insider Riva Bakal sold 2,051 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $5.42, for a total transaction of $11,116.42. Following the completion of the transaction, the insider now owns 110,761 shares of the company’s stock, valued at approximately $600,324.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Riva Bakal also recently made the following trade(s):

• On Monday, April 22nd, Riva Bakal sold 1,136 shares of Vivid Seats stock. The stock was sold at an average price of $5.90, for a total value of $6,702.40.

Vivid Seats Stock Performance

Shares of SEAT stock opened at $5.17 on Friday. Vivid Seats Inc. has a 1 year low of $4.70 and a 1 year high of $8.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.51 and a current ratio of 0.57. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 3.17 and a beta of 1.20. The stock’s 50-day moving average is $5.40 and its two-hundred day moving average is $5.89.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. The firm had revenue of $190.85 million for the quarter, compared to analysts’ expectations of $181.56 million. Analysts predict that Vivid Seats Inc. will post 0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SEAT. Benchmark reiterated a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Wednesday, May 1st. Royal Bank of Canada lowered their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, March 6th. DA Davidson initiated coverage on shares of Vivid Seats in a research report on Thursday, May 30th. They issued a “buy” rating and a $7.00 price objective on the stock. Canaccord Genuity Group lowered their target price on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Maxim Group raised their price target on Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.86.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors have recently modified their holdings of SEAT. Parkside Financial Bank & Trust boosted its stake in Vivid Seats by 84.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock worth $29,000 after purchasing an additional 2,090 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Vivid Seats in the third quarter valued at about $37,000. Ameritas Investment Partners Inc. boosted its stake in shares of Vivid Seats by 301.6% during the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after buying an additional 5,594 shares during the period. SG Americas Securities LLC purchased a new position in shares of Vivid Seats during the fourth quarter worth about $65,000. Finally, Tower Research Capital LLC TRC increased its position in Vivid Seats by 417.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock valued at $71,000 after acquiring an additional 9,121 shares during the period. 39.92% of the stock is owned by institutional investors and hedge funds.

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.