Vivid Seats Inc. (NASDAQ:SEAT) Receives $6.78 Average Target Price from Analysts

Vivid Seats Inc. (NASDAQ:SEAT) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.67.

A number of analysts recently issued reports on the company. Canaccord Genuity Group lowered their price target on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Craig Hallum lowered their target price on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Citigroup cut their price target on Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Royal Bank of Canada dropped their target price on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday.

Vivid Seats Trading Up 1.6 %

Shares of SEAT opened at $3.93 on Friday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73. The firm has a market capitalization of $817.77 million, a price-to-earnings ratio of 6.80, a PEG ratio of 15.31 and a beta of 1.18. The company has a 50-day moving average of $3.94 and a 200 day moving average of $4.64. Vivid Seats has a 1-year low of $3.36 and a 1-year high of $8.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SEAT. Harbor Capital Advisors Inc. raised its stake in Vivid Seats by 180.0% in the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after buying an additional 1,680,327 shares during the last quarter. Invenomic Capital Management LP raised its position in shares of Vivid Seats by 289.4% in the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after purchasing an additional 1,143,870 shares during the last quarter. Anson Funds Management LP boosted its stake in Vivid Seats by 66.5% in the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after purchasing an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP purchased a new stake in Vivid Seats during the 1st quarter worth approximately $5,690,000. Finally, Vanguard Group Inc. increased its stake in Vivid Seats by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after purchasing an additional 410,243 shares in the last quarter. Hedge funds and other 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.