Vivid Seats (NASDAQ:SEAT) Sees Strong Trading Volume – Here’s What Happened

Vivid Seats Inc. (NASDAQ:SEAT) saw strong trading volume on Wednesday . 949,853 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 1,279,850 shares.The stock last traded at $2.69 and had previously closed at $3.77.

Analyst Ratings Changes

Separately, Bank of America restated a “buy” rating and set a $6.25 price objective on shares of Vivid Seats in a report on Tuesday, December 31st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Vivid Seats has an average rating of “Moderate Buy” and a consensus price target of $6.63.

Vivid Seats Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The business’s 50-day simple moving average is $4.39 and its two-hundred day simple moving average is $4.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SEAT. Oppenheimer & Co. Inc. purchased a new stake in shares of Vivid Seats during the third quarter worth $37,000. Stratos Wealth Partners LTD. purchased a new stake in Vivid Seats during the 4th quarter worth about $46,000. Quinn Opportunity Partners LLC purchased a new stake in Vivid Seats during the 4th quarter worth about $46,000. Stoneridge Investment Partners LLC purchased a new position in Vivid Seats during the 4th quarter valued at about $53,000. Finally, BNP Paribas Financial Markets purchased a new position in Vivid Seats during the 4th quarter valued at about $53,000. 39.92% of the stock is owned by 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.