Vivid Seats (NASDAQ:SEAT) Sets New 52-Week Low – Should You Sell?

Vivid Seats Inc. (NASDAQ:SEAT) shares reached a new 52-week low on Monday . The company traded as low as $2.49 and last traded at $2.55, with a volume of 1284 shares traded. The stock had previously closed at $2.57.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SEAT. Royal Bank of Canada decreased their price target on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Benchmark decreased their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Bank of America reaffirmed an “underperform” rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Canaccord Genuity Group reduced their price target on Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Finally, Raymond James downgraded 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Trading Down 1.6 %

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 business has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $3.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Vivid Seats by 35.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after acquiring an additional 194,561 shares in the last quarter. Rhumbline Advisers raised its position in shares of Vivid Seats by 64.9% during the fourth quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock worth $772,000 after purchasing an additional 65,620 shares during the period. Emeth Value Capital LLC bought a new position in shares of Vivid Seats in the 4th quarter worth $23,250,000. Covalent Partners LLC grew its position in Vivid Seats by 66.7% in the 3rd quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after purchasing an additional 150,000 shares during the period. Finally, Barclays PLC increased its stake in Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after purchasing an additional 97,546 shares in the last quarter. 39.92% of the stock is owned by institutional investors.

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.