Vivid Seats (NASDAQ:SEAT) Trading Up 4.8%

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price shot up 4.8% during mid-day trading on Thursday . The company traded as high as $5.87 and last traded at $5.86. 335,067 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,567,825 shares. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SEAT. Benchmark reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Wednesday, March 6th. Maxim Group began coverage on Vivid Seats in a research note on Wednesday. They issued a “buy” rating and a $7.00 price objective on the stock. Royal Bank of Canada reduced their price objective on 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. Finally, Craig Hallum started coverage on Vivid Seats in a research report on Friday, February 9th. They set a “buy” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Vivid Seats presently has an average rating of “Moderate Buy” and an average price target of $9.94.

Vivid Seats Trading Up 0.5 %

The stock has a fifty day moving average of $5.81 and a 200-day moving average of $6.31. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.46 and a current ratio of 0.50. The company has a market cap of $1.24 billion, a PE ratio of 10.71, a PEG ratio of 2.62 and a beta of 1.20.

Hedge Funds Weigh In On Vivid Seats

A number of large investors have recently bought and sold shares of SEAT. Vanguard Group Inc. boosted its holdings in Vivid Seats by 372.8% during the 4th quarter. Vanguard Group Inc. now owns 3,926,335 shares of the company’s stock valued at $24,814,000 after acquiring an additional 3,095,941 shares during the period. Boston Partners boosted its holdings in Vivid Seats by 118.3% during the 4th quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after acquiring an additional 1,949,891 shares during the period. Clearbridge Investments LLC purchased a new position in Vivid Seats during the 4th quarter valued at $10,815,000. FMR LLC boosted its holdings in Vivid Seats by 160.9% during the 2nd quarter. FMR LLC now owns 2,206,475 shares of the company’s stock valued at $16,482,000 after acquiring an additional 1,360,674 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Vivid Seats by 508.6% during the 2nd quarter. Marshall Wace LLP now owns 1,023,780 shares of the company’s stock valued at $8,108,000 after acquiring an additional 855,552 shares during the period. Hedge funds and other institutional investors own 39.92% of the company’s stock.

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.