Vivid Seats (NASDAQ:SEAT) Given Buy Rating at Bank of America

Vivid Seats (NASDAQ:SEAT)‘s stock had its “buy” rating reissued by Bank of America in a report issued on Tuesday,Benzinga reports. They currently have a $6.25 price objective on the stock. Bank of America‘s price objective points to a potential upside of 37.67% from the company’s current price.

Several other brokerages have also recently issued reports on SEAT. Craig Hallum dropped their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Royal Bank of Canada cut their price target on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Piper Sandler reissued a “neutral” rating and set a $4.00 price objective (down previously from $5.00) on shares of Vivid Seats in a research note on Friday, November 8th. Citigroup cut their target price on 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 target 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Vivid Seats currently has an average rating of “Moderate Buy” and an average price target of $6.63.

Vivid Seats Trading Up 19.8 %

Shares of SEAT opened at $4.54 on Tuesday. The firm’s fifty day moving average is $3.68 and its two-hundred day moving average is $4.24. The stock has a market cap of $943.14 million, a PE ratio of 6.35, a price-to-earnings-growth ratio of 15.89 and a beta of 1.11. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. Vivid Seats has a 52-week low of $3.24 and a 52-week high of $6.51.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Vivid Seats by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock valued at $2,723,000 after acquiring an additional 194,561 shares during the last quarter. Clearline Capital LP boosted its position in shares of Vivid Seats by 105.6% during the 2nd quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock worth $4,432,000 after purchasing an additional 395,942 shares during the period. Covalent Partners LLC increased its holdings in Vivid Seats by 66.7% in the 3rd 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. Dynamic Technology Lab Private Ltd acquired a new stake in Vivid Seats in the 3rd quarter valued at approximately $521,000. Finally, Captrust Financial Advisors purchased a new stake in Vivid Seats in the third quarter valued at approximately $544,000. Institutional investors and hedge funds 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.