Vivid Seats (NASDAQ:SEAT) Earns “Buy” Rating from Bank of America

Vivid Seats (NASDAQ:SEAT)‘s stock had its “buy” rating reaffirmed by investment analysts at Bank of America in a report released on Tuesday,Benzinga reports. They presently have a $6.25 price target on the stock. Bank of America‘s price target suggests a potential upside of 34.99% from the company’s current price.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. DA Davidson lowered their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Citigroup reduced their price objective on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Canaccord Genuity Group lowered their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, Maxim Group reduced their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.63.

Vivid Seats Stock Up 2.0 %

Vivid Seats stock opened at $4.63 on Tuesday. The firm has a 50 day simple moving average of $3.71 and a 200 day simple moving average of $4.24. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. Vivid Seats has a 1-year low of $3.24 and a 1-year high of $6.51. The firm has a market capitalization of $961.84 million, a price-to-earnings ratio of 6.35, a P/E/G ratio of 15.89 and a beta of 1.11.

Institutional Investors Weigh In On Vivid Seats

A number of large investors have recently added to or reduced their stakes in SEAT. Harbor Capital Advisors Inc. lifted its holdings in shares of Vivid Seats by 180.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after acquiring an additional 1,680,327 shares during the last quarter. Clearline Capital LP raised its position in Vivid Seats by 105.6% in the 2nd quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock worth $4,432,000 after purchasing an additional 395,942 shares during the period. Geode Capital Management LLC lifted its stake in Vivid Seats by 18.9% in the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after purchasing an additional 314,482 shares during the last quarter. Renaissance Technologies LLC boosted its position in Vivid Seats by 183.4% during the second quarter. Renaissance Technologies LLC now owns 324,228 shares of the company’s stock valued at $1,864,000 after buying an additional 209,828 shares during the period. Finally, FMR LLC grew its stake in shares of Vivid Seats by 3.4% during the third quarter. FMR LLC now owns 5,970,058 shares of the company’s stock valued at $22,089,000 after buying an additional 195,625 shares during the last quarter. Hedge funds and other institutional investors 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.