Vivid Seats (NASDAQ:SEAT) Stock Price Up 3.8% – What’s Next?

Vivid Seats Inc. (NASDAQ:SEAT)’s share price was up 3.8% during trading on Tuesday . The company traded as high as $2.83 and last traded at $2.86. Approximately 262,702 shares traded hands during trading, a decline of 80% from the average daily volume of 1,311,601 shares. The stock had previously closed at $2.75.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James downgraded Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. Benchmark reduced their target price on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Royal Bank of Canada cut their price target on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Thursday, March 13th. Finally, Canaccord Genuity Group lowered their price objective on Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Vivid Seats currently has an average rating of “Hold” and an average price target of $5.49.

Vivid Seats Price Performance

The business’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $3.91. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Institutional Investors Weigh In On Vivid Seats

Several institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Vivid Seats by 61.8% in 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 during the last quarter. Wolverine Trading LLC bought a new stake in shares of Vivid Seats in the 4th quarter worth about $84,000. Shay Capital LLC boosted its stake in shares of 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 purchasing an additional 191,400 shares during the period. Silver Rock Financial LP grew its holdings in Vivid Seats by 9.6% during 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 raised its position in Vivid Seats by 72.9% in 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 period. 39.92% of the stock is owned by 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.