Vivid Seats (NASDAQ:SEAT) Trading Down 4.3% – Time to Sell?

Vivid Seats Inc. (NASDAQ:SEAT)’s share price traded down 4.3% during trading on Monday . The company traded as low as $3.37 and last traded at $3.37. 83,898 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,397,580 shares. The stock had previously closed at $3.52.

Analyst Ratings Changes

SEAT has been the topic of several research analyst reports. Maxim Group reduced their price objective on Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Canaccord Genuity Group decreased their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Benchmark cut their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reduced their target price on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $4.00 price target (down from $5.00) on shares of Vivid Seats in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Vivid Seats has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

Vivid Seats Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The company’s 50 day moving average is $3.70 and its 200-day moving average is $4.30. The stock has a market cap of $718.80 million, a PE ratio of 6.15, a P/E/G ratio of 16.30 and a beta of 1.11.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of SEAT. Oppenheimer & Co. Inc. bought a new stake in shares of Vivid Seats in the 3rd quarter worth about $37,000. Principal Financial Group Inc. bought a new stake in Vivid Seats in the second quarter valued at about $61,000. Marshall Wace LLP acquired a new stake in Vivid Seats during the second quarter valued at approximately $67,000. Intech Investment Management LLC acquired a new stake in Vivid Seats during the third quarter valued at approximately $87,000. Finally, Ashton Thomas Securities LLC grew its position in shares of Vivid Seats by 83.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock worth $95,000 after acquiring an additional 11,655 shares in the last quarter. 39.92% of the stock is currently owned by hedge funds and other 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.