Vivid Seats (NASDAQ:SEAT) Reaches New 52-Week Low – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.34 and last traded at $3.38, with a volume of 371725 shares traded. The stock had previously closed at $3.56.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SEAT. Royal Bank of Canada cut their price target on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday. Benchmark dropped their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Citigroup dropped their price objective on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Maxim Group dropped their price objective on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Canaccord Genuity Group dropped their price objective on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Vivid Seats presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Vivid Seats Stock Down 3.7 %

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.79. The company has a market cap of $713.71 million, a PE ratio of 6.84, a PEG ratio of 17.12 and a beta of 1.18. The firm has a fifty day simple moving average of $3.92 and a 200 day simple moving average of $4.64.

Institutional Trading of Vivid Seats

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clearline Capital LP grew its holdings in Vivid Seats by 6.1% in the 3rd quarter. Clearline Capital LP now owns 817,996 shares of the company’s stock valued at $3,027,000 after buying an additional 47,198 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Vivid Seats during the 3rd quarter worth about $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Vivid Seats by 23.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,800 shares of the company’s stock worth $332,000 after purchasing an additional 16,976 shares during the period. FMR LLC grew its holdings in shares of Vivid Seats by 3.4% during the 3rd quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after purchasing an additional 195,625 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Vivid Seats during the 3rd quarter worth about $521,000. Hedge funds and other institutional investors own 39.92% of the company’s stock.

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.