Vivid Seats (NASDAQ:SEAT) Reaches New 1-Year Low – Here’s What Happened

Shares of Vivid Seats Inc. (NASDAQ:SEAT) hit a new 52-week low on Thursday . The company traded as low as $2.34 and last traded at $2.40, with a volume of 272201 shares changing hands. The stock had previously closed at $2.42.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SEAT shares. Bank of America reissued an “underperform” rating and set a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats 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. Royal Bank of Canada decreased their target price on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 13th. Canaccord Genuity Group dropped their price objective on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Benchmark dropped their price target on shares of Vivid Seats from $8.00 to $6.00 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 given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Vivid Seats has an average rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Trading Down 4.5 %

The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a 50-day moving average price of $3.32 and a two-hundred day moving average price of $3.75.

Institutional Trading of Vivid Seats

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its position in Vivid Seats by 64.9% in the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after buying an additional 65,620 shares during the last quarter. Emeth Value Capital LLC bought a new stake in shares of Vivid Seats in the 4th quarter worth approximately $23,250,000. Barclays PLC increased its holdings in Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after purchasing an additional 97,546 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 314,482 shares in the last quarter. Finally, Huber Capital Management LLC acquired a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $3,627,000. 39.92% of the stock is currently owned by hedge funds and other 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.