10 Best Fast-Growing Penny Stocks to Buy Now

3. Vivid Seats Inc. (NASDAQ:SEAT)

3-Year Revenue CAGR: 79.58%

Year-over-Year Revenue CAGR: 19.65%

Share Price as of September 5: $4.63

Number of Hedge Fund Holders: 24

Vivid Seats Inc. (NASDAQ:SEAT) is a leading online secondary ticket marketplace that connects ticket sellers with buyers. Only registered sellers can partner with this marketplace.

Its loyalty program and engagement initiatives have led to a lot of repeat orders over time. However, the average order size decreased from $363 in Q2 last year to $322 this year, partially offsetting the increase in total marketplace orders.

The company faced notable event cancellations, including tours by Aerosmith and Jennifer Lopez. Aerosmith officially announced the cancellation of their “Peace Out” farewell tour on August 2, due to frontman Steven Tyler’s vocal cord injury.

Despite these challenges, it saw a significant increase in total marketplace orders (3.1 million orders), up 18% year-over-year in the second quarter of 2024. There was also a 19.92% year-over-year improvement in revenue, recording a total revenue of $198.32 million. The loss per share in this period was $0.01.

One of its projects, Skybox Drive, an automated pricing tool designed to enhance seller engagement and optimize ticket pricing, is in the final stage of its beta phase, with a formal launch expected soon. It’s still expecting slower growth in sales and revenue for the rest of the year. 2023 had many popular artists touring in large venues, a level of success difficult to repeat in 2024.

24 hedge funds are long in the company. The largest one is Anson Investments, with a value of $13,879,367. Vivid Seats Inc. (NASDAQ:SEAT) also repurchased $16 million worth of shares. Management says they’re aiming to benefit from the growth in women’s sports and soccer, which are gaining popularity.