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

Shares of Vivid Seats Inc. (NASDAQ:SEAT) rose 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SEAT shares. Benchmark dropped their price objective on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Bank of America reissued an “underperform” rating and set a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Royal Bank of Canada dropped their price objective on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Morgan Stanley dropped their price objective 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, March 13th. Finally, Canaccord Genuity Group dropped their price objective on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.49.

Vivid Seats Price Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The firm’s 50-day moving average is $4.15 and its two-hundred day moving average is $3.97.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Vivid Seats by 35.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock valued at $2,723,000 after acquiring an additional 194,561 shares during the last quarter. Rhumbline Advisers raised its holdings in Vivid Seats by 64.9% in the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after acquiring an additional 65,620 shares during the last quarter. Emeth Value Capital LLC acquired a new stake in Vivid Seats in the 4th quarter valued at about $23,250,000. Covalent Partners LLC raised its holdings in Vivid Seats by 66.7% in the 3rd quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after acquiring an additional 150,000 shares during the last quarter. Finally, Barclays PLC raised its holdings in Vivid Seats by 353.2% in the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after acquiring an additional 97,546 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.