Vivid Seats (NASDAQ:SEAT) Given Underperform Rating at Bank of America

Vivid Seats (NASDAQ:SEAT)‘s stock had its “underperform” rating reiterated by equities researchers at Bank of America in a report released on Thursday,Benzinga reports. They presently have a $2.60 price target on the stock, down from their prior price target of $6.25. Bank of America‘s price objective suggests a potential downside of 10.34% from the stock’s current price.

Vivid Seats Trading Down 23.1 %

Vivid Seats stock opened at $2.90 on Thursday. The business has a fifty day moving average price of $4.36 and a 200-day moving average price of $4.04. Vivid Seats has a 1-year low of $2.67 and a 1-year high of $6.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74.

Institutional Trading of Vivid Seats

Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Vivid Seats in the third quarter worth about $37,000. Stratos Wealth Partners LTD. purchased a new position in Vivid Seats during the fourth quarter worth approximately $46,000. Quinn Opportunity Partners LLC purchased a new position in Vivid Seats during the fourth quarter worth approximately $46,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $53,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $53,000. 39.92% of the stock is owned by hedge funds and other institutional investors.

About Vivid Seats

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.