Vivid Seats (NASDAQ:SEAT) Hits New 1-Year Low – Here’s What Happened

Shares of Vivid Seats Inc. (NASDAQ:SEAT) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.34 and last traded at $2.40, with a volume of 272201 shares changing hands. The stock had previously closed at $2.42.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SEAT shares. Royal Bank of Canada reduced their price target on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Benchmark cut their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. 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 report on Thursday, March 13th. Bank of America reissued 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, March 13th. Finally, Canaccord Genuity Group reduced their price target on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.49.

Vivid Seats Stock Down 4.5 %

The stock’s fifty day simple moving average is $3.32 and its 200 day simple moving average is $3.75. 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 Investors Weigh In On Vivid Seats

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