Vivid Seats (NASDAQ:SEAT) Trading Up 6% – Time to Buy?

Vivid Seats Inc. (NASDAQ:SEAT) traded up 6% on Tuesday . The company traded as high as $3.72 and last traded at $3.71. 192,727 shares changed hands during trading, a decline of 86% from the average session volume of 1,396,656 shares. The stock had previously closed at $3.50.

Analyst Ratings Changes

Several analysts have issued reports on SEAT shares. Royal Bank of Canada dropped their target price on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Maxim Group dropped 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 note on Monday, November 4th. Craig Hallum reduced their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, Benchmark decreased their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Vivid Seats currently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Vivid Seats Stock Up 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 business has a 50 day simple moving average of $3.69 and a 200 day simple moving average of $4.29. The company has a market capitalization of $774.89 million, a price-to-earnings ratio of 6.15, a PEG ratio of 16.30 and a beta of 1.11.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds and other institutional investors have recently bought and sold shares of SEAT. Exchange Traded Concepts LLC increased its stake in Vivid Seats by 3.8% during the third quarter. Exchange Traded Concepts LLC now owns 99,568 shares of the company’s stock worth $368,000 after purchasing an additional 3,676 shares during the period. Rhumbline Advisers increased its stake in Vivid Seats by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after buying an additional 7,961 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Vivid Seats during the 3rd quarter worth approximately $37,000. American Century Companies Inc. lifted its holdings in Vivid Seats by 23.1% during the 2nd quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock worth $318,000 after buying an additional 10,372 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Vivid Seats in the 2nd quarter valued at approximately $61,000. 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.