Vivid Seats Inc. (NASDAQ:SEAT) Receives $5.49 Consensus Target Price from Analysts

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. One investment 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. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.49.

SEAT has been the subject of several recent analyst reports. Benchmark lowered their target price on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada lowered their target price on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Morgan Stanley lowered 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 note on Thursday, March 13th. Canaccord Genuity Group lowered 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 note on Thursday, March 13th. Finally, Bank of America restated an “underperform” rating and issued a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SEAT. Victory Capital Management Inc. raised its holdings in shares of Vivid Seats by 120.8% during the third quarter. Victory Capital Management Inc. now owns 95,242 shares of the company’s stock worth $352,000 after purchasing an additional 52,111 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Vivid Seats in the third quarter valued at $37,000. Intech Investment Management LLC purchased a new position in Vivid Seats in the third quarter valued at $87,000. Massachusetts Financial Services Co. MA increased its holdings in Vivid Seats by 2.9% in 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. Finally, Charles Schwab Investment Management Inc. increased 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 valued at $2,723,000 after buying an additional 194,561 shares in the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Down 6.3 %

NASDAQ SEAT opened at $2.68 on Friday. 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’s 50 day moving average price is $4.25 and its 200-day moving average price is $3.99. Vivid Seats has a 52-week low of $2.51 and a 52-week high of $6.09.

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.