Vivid Seats (NASDAQ:SEAT) Trading Up 6% – Should You Buy?

Vivid Seats Inc. (NASDAQ:SEAT)’s share price shot up 6% during trading on Tuesday . The company traded as high as $3.72 and last traded at $3.71. 192,727 shares changed hands during trading, a decline of 86% from the average session volume of 1,396,656 shares. The stock had previously closed at $3.50.

Analyst Ratings Changes

A number of brokerages have issued reports on SEAT. Maxim Group reduced their price objective on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Citigroup reduced their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Benchmark lowered their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reduced their target price on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Finally, Craig Hallum lowered their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Vivid Seats currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

Vivid Seats Stock Performance

The company has a market capitalization of $770.73 million, a P/E ratio of 6.36, a P/E/G ratio of 16.30 and a beta of 1.11. 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 company’s fifty day moving average is $3.69 and its 200 day moving average is $4.28.

Hedge Funds Weigh In On Vivid Seats

Hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock worth $462,000 after purchasing an additional 97,546 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Vivid Seats by 18.9% in the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after buying an additional 314,482 shares in the last quarter. Covalent Partners LLC boosted its position in shares of Vivid Seats by 66.7% in the third quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after acquiring an additional 150,000 shares during the period. State Street Corp grew its stake in Vivid Seats by 3.5% during the third quarter. State Street Corp now owns 1,486,894 shares of the company’s stock valued at $5,502,000 after acquiring an additional 49,870 shares in the last quarter. Finally, Clearline Capital LP increased its holdings in Vivid Seats by 6.1% during the 3rd quarter. Clearline Capital LP now owns 817,996 shares of the company’s stock worth $3,027,000 after acquiring an additional 47,198 shares during the period. 39.92% of the stock is currently owned by hedge funds and other 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.