Vivid Seats Inc. (NASDAQ:SEAT) Short Interest Up 20.6% in April

Vivid Seats Inc. (NASDAQ:SEAT) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 9,650,000 shares, a growth of 20.6% from the March 31st total of 8,000,000 shares. Currently, 13.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,570,000 shares, the short-interest ratio is currently 6.1 days.

Wall Street Analysts Forecast Growth

SEAT has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, March 6th. Craig Hallum assumed coverage on shares of Vivid Seats in a research note on Friday, February 9th. They set a “buy” rating and a $10.00 target price for the company. Benchmark reissued a “buy” rating and set a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, March 6th. Finally, Maxim Group assumed coverage on shares of Vivid Seats in a research note on Wednesday, April 17th. They set a “buy” rating and a $7.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.94.

Vivid Seats Stock Performance

NASDAQ:SEAT opened at $5.26 on Wednesday. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 2.83 and a beta of 1.20. The company’s 50-day moving average is $5.76 and its two-hundred day moving average is $6.26. Vivid Seats has a 1-year low of $5.11 and a 1-year high of $9.89.

Hedge Funds Weigh In On Vivid Seats

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Vivid Seats in the 1st quarter worth approximately $230,000. HBK Investments L P purchased a new stake in Vivid Seats during the 4th quarter worth approximately $4,424,000. Blackstone Inc. purchased a new stake in Vivid Seats during the 4th quarter worth approximately $4,424,000. Verition Fund Management LLC increased its stake in Vivid Seats by 308.5% during the 4th quarter. Verition Fund Management LLC now owns 836,222 shares of the company’s stock worth $5,285,000 after buying an additional 631,530 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new stake in Vivid Seats during the 4th quarter worth approximately $3,792,000. 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.