Canaccord Genuity Group Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $5.00

Vivid Seats (NASDAQ:SEAT) had its price objective reduced by Canaccord Genuity Group from $6.00 to $5.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

SEAT has been the subject of a number of other research reports. Benchmark lowered their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America reiterated an “underperform” rating and set a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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. The stock has a fifty day simple moving average of $4.29 and a two-hundred day simple moving average of $4.01. Vivid Seats has a 12-month low of $2.51 and a 12-month high of $6.09. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Institutional Trading of Vivid Seats

Several large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Vivid Seats by 61.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,278 shares of the company’s stock worth $673,000 after acquiring an additional 55,478 shares during the period. Wolverine Trading LLC bought a new stake in shares of Vivid Seats in the fourth quarter worth $84,000. Shay Capital LLC grew its holdings in Vivid Seats by 1,650.0% during the fourth quarter. Shay Capital LLC now owns 203,000 shares of the company’s stock valued at $940,000 after purchasing an additional 191,400 shares during the period. Silver Rock Financial LP grew its holdings in Vivid Seats by 9.6% during the fourth quarter. Silver Rock Financial LP now owns 1,138,896 shares of the company’s stock valued at $5,273,000 after purchasing an additional 100,000 shares during the period. Finally, Deutsche Bank AG grew its holdings in Vivid Seats by 72.9% during the fourth quarter. Deutsche Bank AG now owns 73,648 shares of the company’s stock valued at $341,000 after purchasing an additional 31,053 shares during the period. 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.