Vivid Seats (NASDAQ:SEAT) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Vivid Seats (NASDAQ:SEAT) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Maxim Group initiated coverage on shares of Vivid Seats in a report on Wednesday, April 17th. They issued a buy rating and a $7.00 price target on the stock. Royal Bank of Canada cut their target price on shares of Vivid Seats from $10.00 to $8.00 and set a sector perform rating on the stock in a research note on Wednesday, March 6th. Finally, Craig Hallum initiated coverage on shares of Vivid Seats in a research note on Friday, February 9th. They issued a buy rating and a $10.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Vivid Seats presently has a consensus rating of Moderate Buy and an average target price of $9.94.

Vivid Seats Trading Down 1.3 %

SEAT opened at $5.19 on Wednesday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 2.52 and a beta of 1.23. Vivid Seats has a one year low of $5.11 and a one year high of $9.89. The business has a 50 day simple moving average of $5.75 and a two-hundred day simple moving average of $6.25. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its position in shares of Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock worth $29,000 after purchasing an additional 2,090 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Vivid Seats in the third quarter worth approximately $37,000. SG Americas Securities LLC purchased a new stake in shares of Vivid Seats during the fourth quarter valued at approximately $65,000. Tower Research Capital LLC TRC increased its position in shares of Vivid Seats by 417.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock valued at $71,000 after acquiring an additional 9,121 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Vivid Seats in the 3rd quarter worth approximately $84,000. 39.92% of the stock is owned by 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.