Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report)'s stock price was down 5.2% during mid-day trading on Monday . The stock traded as low as $5.60 and last traded at $5.61. Approximately 980,654 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 1,543,990 shares. The stock had previously closed at $5.92.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on SEAT. Craig Hallum initiated coverage on Vivid Seats in a report on Friday, February 9th. They set a "buy" rating and a $10.00 price objective on the stock. Maxim Group began coverage on Vivid Seats in a research note on Wednesday, April 17th. They issued a "buy" rating and a $7.00 price target on the stock. Royal Bank of Canada lowered their price target on Vivid Seats from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 6th. Finally, Benchmark reissued a "buy" rating and set a $15.00 price objective on shares of Vivid Seats in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Vivid Seats presently has a consensus rating of "Moderate Buy" and an average target price of $9.94.
Check Out Our Latest Report on Vivid Seats
Vivid Seats Trading Down 5.4 %
The business has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $6.27. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 2.83 and a beta of 1.20.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in SEAT. Massachusetts Financial Services Co. MA increased its position in Vivid Seats by 3.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,240,177 shares of the company's stock valued at $27,222,000 after acquiring an additional 160,851 shares in the last quarter. Boston Partners grew its stake in shares of Vivid Seats by 118.3% during the fourth quarter. Boston Partners now owns 3,597,970 shares of the company's stock valued at $22,626,000 after purchasing an additional 1,949,891 shares during the last quarter. FMR LLC increased its holdings in shares of Vivid Seats by 6.8% in the third quarter. FMR LLC now owns 3,520,887 shares of the company's stock valued at $22,604,000 after purchasing an additional 223,676 shares in the last quarter. Clearbridge Investments LLC bought a new position in Vivid Seats in the 4th quarter worth approximately $10,815,000. Finally, Brandywine Global Investment Management LLC raised its position in Vivid Seats by 8.2% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 1,515,576 shares of the company's stock worth $9,730,000 after purchasing an additional 114,815 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company's stock.
Vivid Seats Company Profile
(Get Free Report)
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.
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