Vivid Seats (NASDAQ:SEAT) Receives Underperform Rating from Bank of America

Bank of America restated their underperform rating on shares of Vivid Seats (NASDAQ:SEAT) in a research report report published on Thursday morning, Marketbeat Ratings reports. The firm currently has a $2.60 price objective on the stock, down from their prior price objective of $6.25.

Vivid Seats Stock Up 1.8 %

Shares of NASDAQ SEAT opened at $2.86 on Thursday. 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 stock’s 50-day simple moving average is $4.29 and its two-hundred day simple moving average is $4.01. Vivid Seats has a twelve month low of $2.51 and a twelve month high of $6.09.

Hedge Funds Weigh In On Vivid Seats

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Vivid Seats by 120.8% during the 3rd quarter. Victory Capital Management Inc. now owns 95,242 shares of the company’s stock valued at $352,000 after acquiring an additional 52,111 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Vivid Seats in the 3rd quarter worth approximately $37,000. Intech Investment Management LLC bought a new position in shares of Vivid Seats in the 3rd quarter worth approximately $87,000. Massachusetts Financial Services Co. MA raised its position in shares of Vivid Seats by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock worth $16,636,000 after acquiring an additional 125,035 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Vivid Seats by 35.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock valued at $2,723,000 after buying an additional 194,561 shares in the last quarter. 39.92% of the stock is currently owned by hedge funds and other 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.