Morgan Stanley Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $3.75

Vivid Seats (NASDAQ:SEAT) had its price target lowered by Morgan Stanley from $4.60 to $3.75 in a research report sent to investors on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently weighed in on SEAT. Benchmark dropped their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America restated an “underperform” rating and set a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a research note on Thursday. Finally, Canaccord Genuity Group dropped their price objective on Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday. One 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’s stock. According to MarketBeat, Vivid Seats has an average rating of “Hold” and an average price target of $5.49.

Vivid Seats Stock Up 1.8 %

Shares of SEAT opened at $2.86 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The business’s fifty day moving average is $4.29 and its 200 day moving average is $4.01. Vivid Seats has a 12-month low of $2.51 and a 12-month high of $6.09.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings 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. Rhumbline Advisers grew its holdings in Vivid Seats by 64.9% during the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after buying an additional 65,620 shares in the last quarter. Emeth Value Capital LLC purchased a new position in Vivid Seats during the 4th quarter valued at about $23,250,000. Covalent Partners LLC grew its holdings in Vivid Seats by 66.7% during the 3rd quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after buying an additional 150,000 shares in the last quarter. Finally, Barclays PLC grew its holdings in Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after buying an additional 97,546 shares in the last quarter. Hedge funds and other 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.