Vivid Seats (NASDAQ:SEAT) Downgraded by Raymond James to “Hold”

Raymond James lowered shares of Vivid Seats (NASDAQ:SEAT) from a moderate buy rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

A number of other equities analysts have also issued reports on SEAT. Morgan Stanley decreased their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research note on Thursday. Royal Bank of Canada decreased their price target on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Thursday. Canaccord Genuity Group decreased their price target on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America reaffirmed an “underperform” rating and set a $2.60 price target (down from $6.25) on shares of Vivid Seats in a research note on Thursday. Finally, Benchmark decreased their price target on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Price Performance

Shares of SEAT stock opened at $2.86 on Thursday. Vivid Seats has a 12-month low of $2.51 and a 12-month high of $6.09. The business has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $4.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position 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 valued at $22,089,000 after acquiring an additional 195,625 shares during the last quarter. Emeth Value Capital LLC purchased a new stake in shares of Vivid Seats in the fourth quarter valued at $23,250,000. Vanguard Group Inc. lifted its holdings in shares of Vivid Seats by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock valued at $22,676,000 after purchasing an additional 22,285 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Vivid Seats by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock valued at $16,636,000 after purchasing an additional 125,035 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Vivid Seats by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock valued at $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.

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.