Vivid Seats (NASDAQ:SEAT) Trading Up 3.8% – Still a Buy?

Vivid Seats Inc. (NASDAQ:SEAT) shares were up 3.8% on Tuesday . The company traded as high as $2.83 and last traded at $2.86. Approximately 262,702 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,311,601 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SEAT shares. Raymond James lowered shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a report on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $2.60 price target (down from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Morgan Stanley dropped their target price on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Canaccord Genuity Group decreased their price target on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Benchmark lowered their price objective 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.49.

Vivid Seats Stock Up 4.7 %

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 company has a fifty day simple moving average of $4.09 and a two-hundred day simple moving average of $3.93.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Vivid Seats by 35.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after acquiring an additional 194,561 shares during the period. Rhumbline Advisers boosted its stake in shares of Vivid Seats by 64.9% in the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after purchasing an additional 65,620 shares during the last quarter. Emeth Value Capital LLC acquired a new stake in shares of Vivid Seats during the fourth quarter worth $23,250,000. Covalent Partners LLC raised its stake in Vivid Seats by 66.7% during the third quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock worth $1,388,000 after buying an additional 150,000 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Vivid Seats by 353.2% in the third quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after buying an additional 97,546 shares during the period. Institutional investors own 39.92% of the company’s stock.

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.