Vivid Seats Inc. (NASDAQ:SEAT) Receives Average Rating of “Moderate Buy” from Analysts

Vivid Seats Inc. (NASDAQ:SEAT) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.63.

SEAT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and issued a $4.00 target price (down from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Benchmark lowered their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Craig Hallum cut their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, Bank of America restated a “buy” rating and set a $6.25 target price on shares of Vivid Seats in a report on Tuesday.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock worth $462,000 after purchasing an additional 97,546 shares during the period. Geode Capital Management LLC boosted its stake in Vivid Seats by 18.9% during the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after buying an additional 314,482 shares during the period. Covalent Partners LLC increased its position in shares of Vivid Seats by 66.7% during the third quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after acquiring an additional 150,000 shares during the last quarter. State Street Corp lifted its holdings in shares of Vivid Seats by 3.5% in the 3rd quarter. State Street Corp now owns 1,486,894 shares of the company’s stock worth $5,502,000 after acquiring an additional 49,870 shares during the last quarter. Finally, Clearline Capital LP boosted its position in shares of Vivid Seats by 6.1% during the 3rd quarter. Clearline Capital LP now owns 817,996 shares of the company’s stock worth $3,027,000 after purchasing an additional 47,198 shares during the period. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Trading Up 1.3 %

SEAT stock opened at $4.59 on Monday. The business’s 50-day moving average is $3.74 and its 200 day moving average is $4.23. Vivid Seats has a 12-month low of $3.24 and a 12-month high of $6.41. The stock has a market cap of $953.55 million, a price-to-earnings ratio of 8.25, a PEG ratio of 15.89 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

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.