Vivid Seats (NASDAQ:SEAT) Hits New 12-Month Low on Analyst Downgrade

Vivid Seats Inc. (NASDAQ:SEAT) hit a new 52-week low on Thursday after Benchmark lowered their price target on the stock from $8.00 to $6.00. Benchmark currently has a buy rating on the stock. Vivid Seats traded as low as $2.51 and last traded at $2.76, with a volume of 579844 shares changing hands. The stock had previously closed at $2.90.

Separately, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.06.

Institutional Investors Weigh In On Vivid Seats

Several large investors have recently bought and sold shares of SEAT. Ashton Thomas Securities LLC increased its stake in Vivid Seats by 83.6% in the third quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock valued at $95,000 after purchasing an additional 11,655 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Vivid Seats by 120.8% during the third quarter. Victory Capital Management Inc. now owns 95,242 shares of the company’s stock worth $352,000 after acquiring an additional 52,111 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Vivid Seats during the third quarter worth $37,000. Intech Investment Management LLC bought a new stake in shares of Vivid Seats during the third quarter worth $87,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of 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 worth $16,636,000 after acquiring an additional 125,035 shares in the last quarter. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Down 2.9 %

The company’s 50-day moving average price is $4.36 and its 200-day moving average price is $4.04. 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.