Vivid Seats (NASDAQ:SEAT) Trading 6% Higher – Here’s What Happened

Shares of Vivid Seats Inc. (NASDAQ:SEAT) were up 6% during mid-day trading on Tuesday . The company traded as high as $3.72 and last traded at $3.71. Approximately 192,727 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,396,656 shares. The stock had previously closed at $3.50.

Analyst Ratings Changes

SEAT has been the subject of several recent analyst reports. Maxim Group reduced their target price on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Canaccord Genuity Group decreased their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Royal Bank of Canada lowered 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 research note on Monday, November 11th. Citigroup cut their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Benchmark lowered their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Vivid Seats currently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Vivid Seats Stock Up 6.0 %

The company has a market cap of $770.73 million, a PE ratio of 6.36, a PEG ratio of 16.30 and a beta of 1.11. The stock’s 50 day moving average price is $3.69 and its 200-day moving average price is $4.28. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its stake in shares of Vivid Seats by 353.2% in the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after acquiring an additional 97,546 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 purchasing an additional 314,482 shares during the period. Covalent Partners LLC lifted its position in Vivid Seats by 66.7% in the third quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after purchasing an additional 150,000 shares during the last quarter. State Street Corp boosted its stake in shares of Vivid Seats by 3.5% during the third quarter. State Street Corp now owns 1,486,894 shares of the company’s stock valued at $5,502,000 after purchasing an additional 49,870 shares during the period. Finally, Clearline Capital LP grew its holdings in shares of Vivid Seats by 6.1% in the third quarter. Clearline Capital LP now owns 817,996 shares of the company’s stock worth $3,027,000 after purchasing an additional 47,198 shares during the last quarter. 39.92% of the stock is owned by institutional investors.

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.