Vivid Seats (NASDAQ:SEAT) Trading 7.1% Higher – Here’s Why

Shares of Vivid Seats Inc. (NASDAQ:SEAT) shot up 7.1% during trading on Tuesday . The stock traded as high as $4.73 and last traded at $4.66. 1,285,909 shares were traded during trading, an increase of 40% from the average session volume of 920,529 shares. The stock had previously closed at $4.35.

Wall Street Analysts Forecast Growth

SEAT has been the topic of a number of research analyst reports. Citigroup decreased their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Piper Sandler reissued a “neutral” rating and set a $4.00 target price (down previously from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Bank of America reaffirmed a “buy” rating and set a $6.25 price target on shares of Vivid Seats in a research report on Tuesday, December 31st. Royal Bank of Canada dropped their price objective on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Finally, Maxim Group reduced their target price on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

Vivid Seats Price Performance

The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The business has a fifty day moving average of $3.79 and a 200 day moving average of $4.18. The stock has a market cap of $970.17 million, a PE ratio of 8.25, a P/E/G ratio of 15.89 and a beta of 0.99.

Institutional Trading of Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of SEAT. FMR LLC grew its position in shares of Vivid Seats by 3.4% in the 3rd quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after acquiring an additional 195,625 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Vivid Seats by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock valued at $16,636,000 after purchasing an additional 125,035 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Vivid Seats by 180.0% during the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after purchasing an additional 1,680,327 shares during the period. Geode Capital Management LLC lifted its position in shares of Vivid Seats by 18.9% in the 3rd 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 last quarter. Finally, State Street Corp boosted 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 valued at $5,502,000 after buying an additional 49,870 shares during the period. 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.