Vivid Seats (NASDAQ:SEAT) Stock Price Up 6.4% – Should You Buy?

Vivid Seats Inc. (NASDAQ:SEAT) was up 6.4% during mid-day trading on Wednesday . The company traded as high as $2.91 and last traded at $2.90. Approximately 1,251,434 shares were traded during trading, a decline of 3% from the average daily volume of 1,286,439 shares. The stock had previously closed at $2.72.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SEAT shares. Benchmark cut their price target 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 set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Canaccord Genuity Group cut their price target on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Morgan Stanley lowered their price objective on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada lowered their price objective on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Trading Down 6.6 %

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’s fifty day simple moving average is $4.15 and its 200-day simple moving average is $3.97.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors have recently modified their holdings of SEAT. Emeth Value Capital LLC acquired a new position in shares of Vivid Seats in the fourth quarter valued at approximately $23,250,000. Huber Capital Management LLC purchased a new position in Vivid Seats during the fourth quarter worth approximately $3,627,000. Visualize Group LP purchased a new position in Vivid Seats during the fourth quarter worth approximately $3,327,000. Geode Capital Management LLC increased its stake in Vivid Seats by 18.9% during 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 during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Vivid Seats by 18.4% during the fourth quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock worth $9,051,000 after acquiring an additional 303,878 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.