Vivid Seats (NASDAQ:SEAT) PT Raised to $9.00

Vivid Seats (NASDAQ:SEAT) had its price target raised by Maxim Group from $7.00 to $9.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Maxim Group currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada decreased their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a sector perform rating on the stock in a research note on Wednesday, March 6th. Craig Hallum assumed coverage on shares of Vivid Seats in a research note on Friday, February 9th. They issued a buy rating and a $10.00 price objective on the stock. Finally, Benchmark reissued a buy rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $10.15.

Vivid Seats Stock Performance

Shares of SEAT traded up $0.08 during mid-day trading on Wednesday, hitting $5.43. 122,952 shares of the company’s stock were exchanged, compared to its average volume of 1,528,361. The stock’s 50-day simple moving average is $5.69 and its 200-day simple moving average is $6.22. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 2.52. Vivid Seats has a 52 week low of $5.11 and a 52 week high of $9.89.

Hedge Funds Weigh In On Vivid Seats

Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its position in Vivid Seats by 84.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after purchasing an additional 2,090 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Vivid Seats in the third quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in shares of Vivid Seats in the fourth quarter valued at about $65,000. Tower Research Capital LLC TRC increased its stake in shares of Vivid Seats by 417.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock valued at $71,000 after buying an additional 9,121 shares during the period. Finally, AXQ Capital LP acquired a new stake in shares of Vivid Seats in the third quarter valued at about $84,000. 39.92% of the stock is currently owned by institutional investors.

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.