Vivid Seats (NASDAQ:SEAT) Given “Underperform” Rating at Bank of America

Bank of America reaffirmed their underperform rating on shares of Vivid Seats (NASDAQ:SEAT) in a research note published on Thursday morning, Marketbeat.com reports. Bank of America currently has a $2.60 price objective on the stock, down from their previous price objective of $6.25.

Vivid Seats Price Performance

Shares of NASDAQ SEAT opened at $2.81 on Thursday. 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 company’s fifty day moving average price is $4.33 and its 200 day moving average price is $4.03. Vivid Seats has a 1 year low of $2.51 and a 1 year high of $6.09.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake 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 valued at $22,089,000 after buying an additional 195,625 shares during the period. Emeth Value Capital LLC acquired a new position in Vivid Seats in the fourth quarter valued at approximately $23,250,000. Vanguard Group Inc. grew its position in Vivid Seats by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock worth $22,676,000 after acquiring an additional 22,285 shares during the period. 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 worth $16,636,000 after acquiring an additional 125,035 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Vivid Seats by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock valued at $9,301,000 after purchasing an additional 33,181 shares during the period. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.