Vivid Seats (NASDAQ:SEAT) Stock Price Up 3.8% – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT) shares traded up 3.8% on Tuesday . The company traded as high as $2.83 and last traded at $2.86. 262,702 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,311,601 shares. The stock had previously closed at $2.75.

Wall Street Analysts Forecast Growth

SEAT has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Bank of America reissued an “underperform” rating and set a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Canaccord Genuity Group decreased their target price on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. 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, March 13th. Finally, Benchmark reduced their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Vivid Seats presently has a consensus rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Price Performance

The stock has a 50 day simple moving average of $4.01 and a 200-day simple moving average of $3.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Institutional Trading of Vivid Seats

Several institutional investors have recently bought and sold shares of SEAT. Emeth Value Capital LLC purchased a new stake in shares of Vivid Seats during the fourth quarter valued at approximately $23,250,000. Huber Capital Management LLC purchased a new position in shares of Vivid Seats in the fourth quarter worth $3,627,000. Visualize Group LP bought a new position in shares of Vivid Seats during the fourth quarter valued at $3,327,000. Geode Capital Management LLC boosted its position in shares of Vivid Seats by 18.9% during the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock valued at $7,309,000 after buying an additional 314,482 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Vivid Seats by 18.4% in the 4th quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock worth $9,051,000 after buying an additional 303,878 shares in the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.