Vivid Seats (NASDAQ:SEAT) Price Target Cut to $3.75 by Analysts at Morgan Stanley

Vivid Seats (NASDAQ:SEAT) had its target price decreased by Morgan Stanley from $4.60 to $3.75 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

SEAT has been the subject of several other reports. Bank of America reiterated an “underperform” rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research note on Thursday. Benchmark reduced their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group reduced their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Price Performance

Shares of NASDAQ SEAT opened at $2.81 on Thursday. 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 12 month low of $2.51 and a 12 month high of $6.09. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.03.

Institutional Trading of Vivid Seats

Several hedge funds have recently added to or reduced their stakes in SEAT. Oppenheimer & Co. Inc. acquired a new position in Vivid Seats in the 3rd quarter valued at $37,000. Stratos Wealth Partners LTD. acquired a new position in Vivid Seats in the 4th quarter valued at $46,000. Quinn Opportunity Partners LLC acquired a new position in Vivid Seats in the 4th quarter valued at $46,000. BNP Paribas Financial Markets acquired a new position in Vivid Seats in the 4th quarter valued at $53,000. Finally, Stoneridge Investment Partners LLC acquired a new position in Vivid Seats in the 4th quarter valued at $53,000. 39.92% of the stock is owned by institutional investors and hedge funds.

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.