Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $5.00 at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price objective trimmed by Canaccord Genuity Group from $6.00 to $5.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also commented on SEAT. Benchmark dropped their price objective on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America reaffirmed an “underperform” rating and set a $2.60 price target (down from $6.25) on shares of Vivid Seats in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Stock Performance

Shares of Vivid Seats stock opened at $2.81 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average price of $4.33 and a 200-day moving average price of $4.03. Vivid Seats has a one year low of $2.51 and a one year high of $6.09.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $673,000 after acquiring an additional 55,478 shares in the last quarter. Wolverine Trading LLC bought a new stake in Vivid Seats during the 4th quarter valued at $84,000. Shay Capital LLC raised its position in Vivid Seats by 1,650.0% during the 4th quarter. Shay Capital LLC now owns 203,000 shares of the company’s stock valued at $940,000 after purchasing an additional 191,400 shares in the last quarter. Silver Rock Financial LP grew its position in shares of Vivid Seats by 9.6% during the 4th quarter. Silver Rock Financial LP now owns 1,138,896 shares of the company’s stock worth $5,273,000 after buying an additional 100,000 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Vivid Seats by 72.9% during the fourth quarter. Deutsche Bank AG now owns 73,648 shares of the company’s stock valued at $341,000 after buying an additional 31,053 shares during the period. 39.92% of the stock is currently owned by institutional investors.

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.