Vivid Seats (NASDAQ:SEAT) Rating Lowered to “Hold” at Raymond James

Vivid Seats (NASDAQ:SEAT) was downgraded by equities researchers at Raymond James from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research firms also recently commented on SEAT. Canaccord Genuity Group dropped their price objective on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America reaffirmed an “underperform” rating and set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday. Morgan Stanley decreased their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a report on Thursday. Royal Bank of Canada dropped their price objective on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Benchmark cut their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.49.

Vivid Seats Stock Performance

Shares of NASDAQ SEAT opened at $2.86 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. Vivid Seats has a 1 year low of $2.51 and a 1 year high of $6.09. The firm’s 50 day moving average price is $4.29 and its 200 day moving average price is $4.02.

Institutional Trading of Vivid Seats

Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new position in shares of Vivid Seats in the third quarter valued at $37,000. Stratos Wealth Partners LTD. acquired a new position in Vivid Seats in the 4th quarter worth $46,000. Quinn Opportunity Partners LLC acquired a new position in Vivid Seats in the 4th quarter worth $46,000. Stoneridge Investment Partners LLC purchased a new position in Vivid Seats in the 4th quarter valued at about $53,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Vivid Seats during the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

Vivid Seats Company Profile

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.