Benchmark Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $6.00

Vivid Seats (NASDAQ:SEAT) had its price objective reduced by Benchmark from $8.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Separately, Bank of America reiterated an “underperform” rating and set a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Stock Performance

Shares of NASDAQ SEAT opened at $2.86 on Thursday. Vivid Seats has a 52-week low of $2.51 and a 52-week high of $6.09. 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 company’s 50 day moving average price is $4.29 and its 200-day moving average price is $4.01.

Hedge Funds Weigh In On Vivid Seats

Several institutional investors and hedge funds have recently modified their holdings of SEAT. Emeth Value Capital LLC bought a new position in shares of Vivid Seats during the fourth quarter valued at $23,250,000. Huber Capital Management LLC bought a new stake in Vivid Seats in the 4th quarter worth about $3,627,000. Visualize Group LP bought a new stake in Vivid Seats in the 4th quarter worth about $3,327,000. Geode Capital Management LLC increased its holdings 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 buying an additional 314,482 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Vivid Seats by 18.4% in the 4th quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock worth $9,051,000 after buying an additional 303,878 shares in the last quarter. 39.92% of the stock is currently 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.