Vivid Seats (NASDAQ:SEAT) Trading 6.8% Higher – Should You Buy?

Vivid Seats Inc. (NASDAQ:SEAT) shot up 6.8% on Tuesday . The company traded as high as $3.60 and last traded at $3.60. 712,279 shares were traded during trading, a decline of 49% from the average session volume of 1,395,134 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SEAT. Maxim Group decreased their price target on Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Citigroup cut their price objective 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. Benchmark cut 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 Friday, November 8th. Craig Hallum cut 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. Finally, DA Davidson cut their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Vivid Seats Stock Performance

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 50-day moving average of $3.73 and a two-hundred day moving average of $4.40.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds have recently added to or reduced their stakes in SEAT. Exchange Traded Concepts LLC raised its stake in shares of Vivid Seats by 3.8% in the third quarter. Exchange Traded Concepts LLC now owns 99,568 shares of the company’s stock worth $368,000 after purchasing an additional 3,676 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Vivid Seats by 9.3% in the second quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after purchasing an additional 7,961 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Vivid Seats in the third quarter worth $37,000. American Century Companies Inc. raised its stake in shares of Vivid Seats by 23.1% in the second 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 during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Vivid Seats in the second quarter worth $61,000. 39.92% of the stock is 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.