Royal Bank of Canada Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $4.00

Vivid Seats (NASDAQ:SEAT) had its price target lowered by Royal Bank of Canada from $6.00 to $4.00 in a report issued on Thursday,Benzinga reports. The firm currently has a sector perform rating on the stock.

SEAT has been the topic of several other research reports. Benchmark dropped their price target on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday. Canaccord Genuity Group dropped their price target on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Bank of America restated an “underperform” rating and set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats 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 issued a buy rating to the company. According to MarketBeat, Vivid Seats has a consensus rating of “Hold” and an average price target of $5.49.

Vivid Seats Stock Performance

Shares of SEAT opened at $2.86 on Thursday. The company’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. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Institutional Trading of Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its position in Vivid Seats by 3.4% in the 3rd quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after purchasing an additional 195,625 shares during the last quarter. Emeth Value Capital LLC acquired a new stake in Vivid Seats in the 4th quarter worth $23,250,000. Vanguard Group Inc. grew its position in Vivid Seats by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock worth $22,676,000 after purchasing an additional 22,285 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 purchasing an additional 125,035 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Vivid Seats by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock worth $9,301,000 after purchasing an additional 33,181 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.