Vivid Seats Sees Unusually Large Options Volume (NASDAQ:SEAT)

Vivid Seats Inc. (NASDAQ:SEAT) was the target of some unusual options trading on Wednesday. Stock traders bought 38,759 call options on the company. This is an increase of approximately 3,795% compared to the average volume of 995 call options.

Vivid Seats Stock Performance

SEAT opened at $2.88 on Thursday. Vivid Seats has a one year low of $2.51 and a one year high of $6.09. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The business has a 50 day simple moving average of $4.18 and a two-hundred day simple moving average of $3.97.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Vivid Seats by 61.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,278 shares of the company’s stock valued at $673,000 after purchasing an additional 55,478 shares during the period. Wolverine Trading LLC purchased a new position in shares of Vivid Seats during the fourth quarter valued at about $84,000. Shay Capital LLC raised its stake in Vivid Seats by 1,650.0% in the fourth quarter. Shay Capital LLC now owns 203,000 shares of the company’s stock worth $940,000 after buying an additional 191,400 shares in the last quarter. Silver Rock Financial LP raised its stake in Vivid Seats by 9.6% in the fourth quarter. Silver Rock Financial LP now owns 1,138,896 shares of the company’s stock worth $5,273,000 after buying an additional 100,000 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Vivid Seats by 72.9% in the fourth quarter. Deutsche Bank AG now owns 73,648 shares of the company’s stock worth $341,000 after buying an additional 31,053 shares during the period. Institutional investors own 39.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SEAT shares. Morgan Stanley dropped their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Canaccord Genuity Group cut their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada decreased 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 research note on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Finally, Benchmark reduced their target price on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Vivid Seats presently has an average rating of “Hold” and an average price target of $5.49.

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.