Vivid Seats (NASDAQ:SEAT) Shares Down 3.3% – Here’s What Happened

Vivid Seats Inc. (NASDAQ:SEAT) traded down 3.3% on Monday . The company traded as low as $2.72 and last traded at $2.77. 808,963 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 1,278,441 shares. The stock had previously closed at $2.86.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America restated an “underperform” rating and issued a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Canaccord Genuity Group cut their target price on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Benchmark cut their target price on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada cut their target price on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Finally, Morgan Stanley cut their target price on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Stock Up 1.5 %

The business’s 50-day moving average price is $4.21 and its 200-day moving average price is $3.98. 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 Investors Weigh In On Vivid Seats

A number of hedge funds have recently modified their holdings of SEAT. Emeth Value Capital LLC bought a new stake in shares of Vivid Seats during the 4th quarter valued at $23,250,000. Huber Capital Management LLC bought a new position in Vivid Seats in the 4th quarter worth $3,627,000. Visualize Group LP bought a new position in Vivid Seats in the 4th quarter worth $3,327,000. Geode Capital Management LLC boosted its holdings in Vivid Seats by 18.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after buying an additional 314,482 shares during the period. Finally, Ameriprise Financial Inc. boosted 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 during the period. 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.