Vivid Seats (NASDAQ:SEAT) Trading Down 4.7% – Here’s What Happened

Vivid Seats Inc. (NASDAQ:SEAT)’s share price dropped 4.7% during mid-day trading on Monday . The stock traded as low as $3.40 and last traded at $3.41. Approximately 124,122 shares traded hands during trading, a decline of 91% from the average daily volume of 1,393,854 shares. The stock had previously closed at $3.58.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SEAT. Canaccord Genuity Group decreased their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Craig Hallum reduced their target price on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Piper Sandler reissued a “neutral” rating and issued a $4.00 target price (down previously from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. DA Davidson decreased their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Citigroup dropped their price target on Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Vivid Seats Stock Down 3.1 %

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 company has a market cap of $720.88 million, a P/E ratio of 6.29, a P/E/G ratio of 16.30 and a beta of 1.18. The stock has a 50 day moving average price of $3.77 and a 200 day moving average price of $4.48.

Institutional Trading of Vivid Seats

A number of hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC lifted its position in Vivid Seats by 3.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 99,568 shares of the company’s stock worth $368,000 after buying an additional 3,676 shares in the last quarter. Rhumbline Advisers grew its stake in Vivid Seats by 9.3% in the second quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock valued at $536,000 after purchasing an additional 7,961 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Vivid Seats in the 3rd quarter worth about $37,000. American Century Companies Inc. raised its stake in shares of Vivid Seats by 23.1% during the 2nd quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock worth $318,000 after purchasing an additional 10,372 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Vivid Seats during the 2nd quarter valued at about $61,000. 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.