Vivid Seats (NASDAQ:SEAT) Shares Up 14.8% – Time to Buy?

Vivid Seats Inc. (NASDAQ:SEAT) shares were up 14.8% during trading on Monday . The company traded as high as $4.53 and last traded at $4.35. Approximately 1,360,018 shares traded hands during trading, a decline of 2% from the average daily volume of 1,390,382 shares. The stock had previously closed at $3.79.

Wall Street Analyst Weigh In

SEAT has been the subject of a number of research reports. DA Davidson lowered their price target on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Craig Hallum cut their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Royal Bank of Canada decreased their target price on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $4.00 price target (down from $5.00) on shares of Vivid Seats in a report on Friday, November 8th. Finally, Citigroup cut their target price on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, September 20th. Three 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Vivid Seats Stock Performance

The stock’s 50 day moving average price is $3.67 and its two-hundred day moving average price is $4.24. 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 firm has a market capitalization of $939.01 million, a price-to-earnings ratio of 6.98, a PEG ratio of 16.30 and a beta of 1.11.

Hedge Funds Weigh In On Vivid Seats

Several institutional investors have recently added to or reduced their stakes in SEAT. FMR LLC lifted its stake in shares of Vivid Seats by 3.4% during the third quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after purchasing an additional 195,625 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Vivid Seats by 2.9% during the third 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. Harbor Capital Advisors Inc. lifted its stake in Vivid Seats by 180.0% during the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after purchasing an additional 1,680,327 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Vivid Seats by 18.9% during the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock valued at $7,309,000 after purchasing an additional 314,482 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Vivid Seats by 3.5% in the 3rd quarter. State Street Corp now owns 1,486,894 shares of the company’s stock worth $5,502,000 after acquiring an additional 49,870 shares during the period. 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.