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

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

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

Vivid Seats Stock Performance

NASDAQ:SEAT opened at $2.86 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. Vivid Seats has a one year low of $2.51 and a one year high of $6.09. The business’s 50-day simple moving average is $4.29 and its 200 day simple moving average is $4.02.

Hedge Funds Weigh In On Vivid Seats

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in shares of Vivid Seats by 8.5% during the fourth quarter. SG Americas Securities LLC now owns 37,065 shares of the company’s stock valued at $172,000 after purchasing an additional 2,909 shares during the last quarter. Plan Group Financial LLC grew its holdings in shares of Vivid Seats by 9.4% during the fourth quarter. Plan Group Financial LLC now owns 35,330 shares of the company’s stock valued at $164,000 after purchasing an additional 3,048 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Vivid Seats by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company’s stock valued at $136,000 after purchasing an additional 4,288 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Vivid Seats by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company’s stock worth $3,434,000 after buying an additional 5,828 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Vivid Seats by 9.6% in the 4th quarter. American Century Companies Inc. now owns 96,396 shares of the company’s stock worth $446,000 after buying an additional 8,450 shares in the last quarter. 39.92% of the stock is owned by institutional investors.

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.