Vivid Seats (NASDAQ:SEAT) Trading 6% Higher – Time to Buy?

Vivid Seats Inc. (NASDAQ:SEAT) rose 6% on Tuesday . The company traded as high as $3.72 and last traded at $3.71. Approximately 192,727 shares traded hands during trading, a decline of 86% from the average daily volume of 1,396,656 shares. The stock had previously closed at $3.50.

Analysts Set New Price Targets

A number of analysts have recently commented on SEAT shares. Citigroup lowered their target price on Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Craig Hallum lowered their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Benchmark decreased their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Maxim Group dropped their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Vivid Seats currently has an average rating of “Moderate Buy” and an average price target of $6.67.

Vivid Seats Stock Performance

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 stock has a market cap of $774.89 million, a price-to-earnings ratio of 6.15, a P/E/G ratio of 16.30 and a beta of 1.11. The firm’s 50-day moving average is $3.69 and its two-hundred day moving average is $4.29.

Institutional Trading of Vivid Seats

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in Vivid Seats by 3.4% in the 3rd quarter. FMR LLC now owns 5,970,058 shares of the company’s stock valued at $22,089,000 after purchasing an additional 195,625 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Vivid Seats by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock worth $16,636,000 after buying an additional 125,035 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Vivid Seats by 180.0% during the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after acquiring an additional 1,680,327 shares during the last quarter. Geode Capital Management LLC grew its stake in Vivid Seats by 18.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock valued at $7,309,000 after acquiring an additional 314,482 shares in the last quarter. Finally, State Street Corp raised its holdings in Vivid Seats by 3.5% in the 3rd quarter. State Street Corp now owns 1,486,894 shares of the company’s stock valued at $5,502,000 after acquiring an additional 49,870 shares during the last quarter. 39.92% of the stock is 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.