Vivid Seats (NASDAQ:SEAT) Stock Price Up 14.8% – What’s Next?

Vivid Seats Inc. (NASDAQ:SEAT) was up 14.8% during trading on Monday . The company traded as high as $4.53 and last traded at $4.35. Approximately 1,360,018 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 1,390,382 shares. The stock had previously closed at $3.79.

Analyst Ratings Changes

SEAT has been the subject of a number of recent analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $4.00 price target (down previously from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Benchmark lowered their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Citigroup reduced their price objective on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Maxim Group lowered their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock 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 for the company in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.67.

Vivid Seats Trading Up 19.3 %

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The business’s fifty day moving average is $3.67 and its 200-day moving average is $4.24. The firm has a market cap of $939.01 million, a P/E ratio of 6.98, a price-to-earnings-growth ratio of 16.30 and a beta of 1.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Vivid Seats by 13.0% during the second quarter. Bank of New York Mellon Corp now owns 327,175 shares of the company’s stock valued at $1,881,000 after buying an additional 37,671 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Vivid Seats in the second quarter worth $61,000. Rhumbline Advisers raised its position in Vivid Seats by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock valued at $536,000 after purchasing an additional 7,961 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Vivid Seats by 23.1% during the 2nd quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock valued at $318,000 after purchasing an additional 10,372 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in Vivid Seats by 57.6% in the second quarter. Johnson Investment Counsel Inc. now owns 35,676 shares of the company’s stock worth $205,000 after purchasing an additional 13,040 shares during the period. Institutional investors own 39.92% of the company’s stock.

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.