Vivid Seats (NASDAQ:SEAT) Trading Up 2.2% - Should You Buy?
Vivid Seats Inc. (NASDAQ:SEAT) saw a 2.2% increase in trading, reaching $3.00, despite a significant drop in trading volume. Analyst ratings have varied, with Canaccord Genuity lowering its price target to $5.00 while maintaining a "buy" rating, and Bank of America reducing its target to $2.60 with an "underperform" rating. The stock has an average rating of "Hold" with a consensus price target of $5.49. Institutional investors hold 39.92% of the company's stock, and Vivid Seats operates an online ticket marketplace in the U.S., Canada, and Japan.
Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) traded up 2.2% during mid-day trading on Monday . The company traded as high as $2.96 and last traded at $3.00. 104,073 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,330,823 shares. The stock had previously closed at $2.93.
Analyst Ratings Changes
Several research analysts have commented on SEAT shares. Canaccord Genuity Group dropped their price objective on shares of Vivid Seats from $6.00 to $5.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Raymond James lowered Vivid Seats from a "moderate buy" rating to a "hold" rating in a research note on Thursday, March 13th. Bank of America reaffirmed an "underperform" rating and issued a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Benchmark lowered their target price on Vivid Seats from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Finally, Morgan Stanley reduced their price target on shares of Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Vivid Seats presently has an average rating of "Hold" and a consensus price target of $5.49.
Read Our Latest Stock Analysis on Vivid Seats
Vivid Seats Stock Up 1.2 %
The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The stock's 50 day moving average is $3.94 and its two-hundred day moving average is $3.89.
Hedge Funds Weigh In On Vivid Seats
A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Vivid Seats by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company's stock valued at $2,723,000 after buying an additional 194,561 shares during the last quarter. Rhumbline Advisers raised its stake in Vivid Seats by 64.9% in the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company's stock worth $772,000 after acquiring an additional 65,620 shares during the last quarter. Emeth Value Capital LLC acquired a new stake in shares of Vivid Seats during the fourth quarter worth about $23,250,000. Covalent Partners LLC increased its stake in shares of Vivid Seats by 66.7% in the third quarter. Covalent Partners LLC now owns 375,000 shares of the company's stock worth $1,388,000 after acquiring an additional 150,000 shares during the period. Finally, Barclays PLC raised its stake in shares of Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company's stock valued at $462,000 after buying an additional 97,546 shares during the last quarter. Institutional investors own 39.92% of the company's stock.
Vivid Seats Company Profile
(Get Free Report)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.
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