Investors Purchase High Volume of Call Options on Vivid Seats (NASDAQ:SEAT)

Vivid Seats Inc. (NASDAQ:SEAT) saw some unusual options trading activity on Wednesday. Stock traders bought 38,759 call options on the company. This represents an increase of 3,795% compared to the typical volume of 995 call options.

Wall Street Analyst Weigh In

SEAT has been the subject of a number of analyst reports. Benchmark cut their price objective on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Bank of America reiterated an “underperform” rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Canaccord Genuity Group dropped their target price on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Morgan Stanley dropped their target price on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Raymond James lowered shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.49.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Vivid Seats by 3.4% during 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 during the period. Emeth Value Capital LLC bought a new stake in shares of Vivid Seats during the 4th quarter valued at $23,250,000. Vanguard Group Inc. boosted its holdings in shares of Vivid Seats by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock valued at $22,676,000 after buying an additional 22,285 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Vivid Seats by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock valued at $16,636,000 after buying an additional 125,035 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Vivid Seats by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock valued at $9,301,000 after buying an additional 33,181 shares in the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

Vivid Seats Stock Up 6.4 %

Shares of NASDAQ SEAT traded up $0.18 during mid-day trading on Wednesday, hitting $2.90. The stock had a trading volume of 1,251,434 shares, compared to its average volume of 1,286,439. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. Vivid Seats has a 1 year low of $2.51 and a 1 year high of $6.09. The business has a 50 day moving average price of $4.21 and a two-hundred day moving average price of $3.98.

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.