Vivid Seats (NASDAQ:SEAT) Downgraded by Raymond James to “Hold”

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

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

Vivid Seats Stock Performance

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. The firm has a 50-day moving average of $4.29 and a 200-day moving average of $4.02. Vivid Seats has a 52-week low of $2.51 and a 52-week high of $6.09.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently modified their holdings of SEAT. Charles Schwab Investment Management Inc. grew its position in Vivid Seats by 35.9% in the third 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 grew its holdings in shares of Vivid Seats by 64.9% during the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after purchasing an additional 65,620 shares during the last quarter. Emeth Value Capital LLC acquired a new position in Vivid Seats during the 4th quarter worth approximately $23,250,000. Covalent Partners LLC lifted its stake 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 purchasing an additional 150,000 shares during the last quarter. Finally, Barclays PLC boosted its position in Vivid Seats by 353.2% in the third quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after buying an additional 97,546 shares in the last quarter. Institutional investors 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.