Vivid Seats (NASDAQ:SEAT) Shares Up 2.2% – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT) shares rose 2.2% during trading on Monday . The stock traded as high as $2.96 and last traded at $3.00. Approximately 104,073 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,330,823 shares. The stock had previously closed at $2.93.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Canaccord Genuity Group cut their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada lowered their target price on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. 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 report on Thursday, March 13th. Finally, Raymond James lowered shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Vivid Seats has a consensus rating of “Hold” and an average target price of $5.49.

Vivid Seats Price Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a 50 day moving average price of $3.94 and a two-hundred day moving average price of $3.89.

Hedge Funds Weigh In On Vivid Seats

Institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. bought a new position in Vivid Seats during the 4th quarter valued at $46,000. Quinn Opportunity Partners LLC acquired a new position in Vivid Seats in the fourth quarter worth about $46,000. Stoneridge Investment Partners LLC bought a new stake in Vivid Seats in the fourth quarter valued at about $53,000. BNP Paribas Financial Markets acquired a new position in Vivid Seats in the fourth quarter worth $53,000. Finally, Pictet Asset Management Holding SA bought a new position in Vivid Seats in the fourth quarter worth about $55,000. 39.92% of the stock is owned by institutional investors and hedge funds.

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.