Vivid Seats (NASDAQ:SEAT) Shares Up 6.4% – What’s Next?

Vivid Seats Inc. (NASDAQ:SEAT)’s share price was up 6.4% during mid-day trading on Wednesday . The company traded as high as $2.91 and last traded at $2.90. Approximately 1,251,434 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 1,286,439 shares. The stock had previously closed at $2.72.

Wall Street Analyst Weigh In

SEAT has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Canaccord Genuity Group decreased their price objective on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Benchmark lowered their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Raymond James lowered Vivid Seats from a “moderate buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, Morgan Stanley lowered their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Stock Up 6.4 %

The firm has a 50 day moving average price of $4.21 and a 200 day moving average price of $3.98. 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 Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. purchased a new position in Vivid Seats during the third quarter valued at approximately $37,000. Stratos Wealth Partners LTD. bought a new position in Vivid Seats in the 4th quarter worth $46,000. Quinn Opportunity Partners LLC purchased a new stake in Vivid Seats in the 4th quarter worth $46,000. Stoneridge Investment Partners LLC bought a new stake in Vivid Seats during the fourth quarter valued at about $53,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Vivid Seats in the fourth quarter valued at about $53,000. 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.