Royal Bank of Canada Lowers Vivid Seats (NASDAQ:SEAT) Price Target to $6.00

Vivid Seats (NASDAQ:SEAT) had its target price reduced by Royal Bank of Canada from $7.00 to $6.00 in a research report released on Monday morning,Benzinga reports. They currently have a sector perform rating on the stock.

SEAT has been the topic of a number of other research reports. Canaccord Genuity Group reduced their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Piper Sandler reissued a “neutral” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Benchmark decreased their target price 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. DA Davidson cut their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Citigroup reduced their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Vivid Seats Stock Down 4.3 %

SEAT opened at $3.76 on Monday. Vivid Seats has a fifty-two week low of $3.36 and a fifty-two week high of $8.80. The firm has a market capitalization of $782.38 million, a P/E ratio of 7.15, a PEG ratio of 17.94 and a beta of 1.18. The company’s 50-day moving average is $3.92 and its 200 day moving average is $4.64. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.73.

Institutional Trading of Vivid Seats

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake in Vivid Seats by 180.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after buying an additional 1,680,327 shares in the last quarter. Invenomic Capital Management LP grew its position in shares of Vivid Seats by 289.4% in the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after purchasing an additional 1,143,870 shares in the last quarter. Anson Funds Management LP raised its stake in shares of Vivid Seats by 66.5% during the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after purchasing an additional 1,076,271 shares during the period. First Sabrepoint Capital Management LP purchased a new stake in Vivid Seats during the 1st quarter worth about $5,690,000. Finally, Vanguard Group Inc. lifted its holdings in Vivid Seats by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after purchasing an additional 410,243 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.