Vivid Seats (NASDAQ:SEAT) Trading Down 3.3% – What’s Next?

Vivid Seats Inc. (NASDAQ:SEAT) shares were down 3.3% during mid-day trading on Monday . The stock traded as low as $2.72 and last traded at $2.77. Approximately 808,963 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,278,441 shares. The stock had previously closed at $2.86.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SEAT shares. Benchmark cut their price target on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America reissued an “underperform” rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a report on Thursday. Morgan Stanley lowered their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research report on Thursday. Canaccord Genuity Group lowered their price target on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada lowered their price target on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday. One equities 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 stock. According to MarketBeat.com, Vivid Seats currently has an average rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Stock Down 4.7 %

The business’s 50-day moving average price is $4.29 and its 200-day moving average price is $4.01. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Institutional Trading of Vivid Seats

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in Vivid Seats by 120.8% in the third quarter. Victory Capital Management Inc. now owns 95,242 shares of the company’s stock worth $352,000 after buying an additional 52,111 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Vivid Seats during the third quarter valued at approximately $37,000. Intech Investment Management LLC acquired a new stake in shares of Vivid Seats in the third quarter worth $87,000. Massachusetts Financial Services Co. MA grew its stake 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 worth $16,636,000 after acquiring an additional 125,035 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Vivid Seats by 35.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after acquiring an additional 194,561 shares during the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.