Royal Bank of Canada Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $4.00

Vivid Seats (NASDAQ:SEAT) had its target price cut by Royal Bank of Canada from $6.00 to $4.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley decreased their target price 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 reduced their price objective on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America reaffirmed an “underperform” rating and set a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a research report on Thursday. Finally, Benchmark reduced their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Stock Down 3.1 %

NASDAQ:SEAT opened at $2.81 on Thursday. Vivid Seats has a 1 year low of $2.51 and a 1 year high of $6.09. 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 stock has a 50-day moving average price of $4.33 and a two-hundred day moving average price of $4.03.

Institutional Trading of Vivid Seats

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in Vivid Seats during the third quarter worth about $37,000. Stratos Wealth Partners LTD. bought a new stake in Vivid Seats during the fourth quarter worth about $46,000. Quinn Opportunity Partners LLC bought a new stake in Vivid Seats during the fourth quarter worth about $46,000. Stoneridge Investment Partners LLC bought a new stake in Vivid Seats during the fourth quarter worth about $53,000. Finally, BNP Paribas Financial Markets bought a new stake in Vivid Seats during the fourth quarter worth about $53,000. 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.