Brokerages Set Vivid Seats Inc. (NASDAQ:SEAT) Target Price at $5.49

Vivid Seats Inc. (NASDAQ:SEAT) has received a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.49.

A number of brokerages have issued reports on SEAT. Benchmark cut their target price on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada cut their price target on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Morgan Stanley cut their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Raymond James cut Vivid Seats from a “moderate buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, Bank of America reaffirmed an “underperform” rating and set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in Vivid Seats by 3.4% in the third quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after buying an additional 195,625 shares during the last quarter. Emeth Value Capital LLC acquired a new position in Vivid Seats in the fourth quarter worth approximately $23,250,000. Vanguard Group Inc. grew its position in Vivid Seats by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock worth $22,676,000 after purchasing an additional 22,285 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Vivid Seats by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock worth $16,636,000 after purchasing an additional 125,035 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Vivid Seats by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock worth $9,301,000 after purchasing an additional 33,181 shares in the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

Vivid Seats Trading Up 5.9 %

Shares of NASDAQ SEAT opened at $2.88 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The firm’s 50-day moving average price is $4.18 and its two-hundred day moving average price is $3.97. Vivid Seats has a 52-week low of $2.51 and a 52-week high of $6.09.

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.