Vivid Seats (NASDAQ:SEAT) Stock Price Down 4.3% – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT)’s share price fell 4.3% on Monday . The company traded as low as $3.37 and last traded at $3.37. 83,898 shares traded hands during trading, a decline of 94% from the average session volume of 1,397,580 shares. The stock had previously closed at $3.52.

Wall Street Analyst Weigh In

SEAT has been the topic of several research reports. DA Davidson cut their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Maxim Group lowered their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 4th. Canaccord Genuity Group cut their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Royal Bank of Canada decreased their price objective on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.67.

Vivid Seats Price Performance

The business’s 50-day simple moving average is $3.69 and its 200 day simple moving average is $4.29. The company has a market capitalization of $770.73 million, a P/E ratio of 6.15, a P/E/G ratio of 16.30 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Vivid Seats by 13.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 327,175 shares of the company’s stock worth $1,881,000 after acquiring an additional 37,671 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Vivid Seats in the second quarter worth $61,000. Rhumbline Advisers boosted its stake in shares of Vivid Seats by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock valued at $536,000 after buying an additional 7,961 shares during the period. American Century Companies Inc. lifted its holdings in shares of Vivid Seats by 23.1% during the 2nd quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock valued at $318,000 after buying an additional 10,372 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in Vivid Seats by 57.6% in the second quarter. Johnson Investment Counsel Inc. now owns 35,676 shares of the company’s stock worth $205,000 after acquiring an additional 13,040 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.