Vivid Seats (NASDAQ:SEAT) Price Target Cut to $6.00 by Analysts at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price objective dropped by investment analysts at Benchmark from $8.00 to $6.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 114.67% from the stock’s current price.

Separately, Bank of America reissued an “underperform” rating and issued a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.06.

Vivid Seats Stock Performance

Shares of SEAT traded down $0.11 during trading on Thursday, reaching $2.80. 1,705,437 shares of the company traded hands, compared to its average volume of 1,305,829. The stock has a 50-day simple moving average of $4.36 and a 200-day simple moving average of $4.04. Vivid Seats has a twelve month low of $2.52 and a twelve month 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 Investors Weigh In On Vivid Seats

A number of hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Vivid Seats by 61.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,278 shares of the company’s stock worth $673,000 after buying an additional 55,478 shares in the last quarter. Wolverine Trading LLC purchased a new position in Vivid Seats in the fourth quarter worth approximately $84,000. Shay Capital LLC grew its holdings in Vivid Seats by 1,650.0% during the 4th quarter. Shay Capital LLC now owns 203,000 shares of the company’s stock worth $940,000 after acquiring an additional 191,400 shares in the last quarter. Silver Rock Financial LP increased its position in shares of Vivid Seats by 9.6% in the 4th quarter. Silver Rock Financial LP now owns 1,138,896 shares of the company’s stock valued at $5,273,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Vivid Seats by 72.9% during the 4th quarter. Deutsche Bank AG now owns 73,648 shares of the company’s stock worth $341,000 after purchasing an additional 31,053 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.