Vivid Seats (NASDAQ:SEAT) Shares Up 2.2% – Here’s What Happened

Vivid Seats Inc. (NASDAQ:SEAT)’s share price was up 2.2% during trading on Monday . The company traded as high as $2.96 and last traded at $3.00. Approximately 104,073 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,330,823 shares. The stock had previously closed at $2.93.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Bank of America reissued an “underperform” rating and set a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Canaccord Genuity Group decreased their price objective on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Morgan Stanley dropped their target price on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Raymond James cut shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, Benchmark lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Vivid Seats presently has an average rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Stock Performance

The company has a 50-day moving average of $3.87 and a 200-day moving average of $3.87. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEAT. Emeth Value Capital LLC purchased a new position in shares of Vivid Seats in the 4th quarter worth approximately $23,250,000. Huber Capital Management LLC purchased a new stake in shares of Vivid Seats during the 4th quarter valued at $3,627,000. Visualize Group LP bought a new stake in shares of Vivid Seats during the 4th quarter worth $3,327,000. Geode Capital Management LLC boosted its holdings in shares of Vivid Seats by 18.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after buying an additional 314,482 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Vivid Seats by 18.4% during the fourth quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock valued at $9,051,000 after buying an additional 303,878 shares during the period. 39.92% of the stock is currently owned by hedge funds and other 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.