Traders Buy High Volume of Vivid Seats Call Options (NASDAQ:SEAT)

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) was the target of unusually large options trading on Monday. Stock traders acquired 30,196 call options on the stock. This represents an increase of 1,910% compared to the average daily volume of 1,502 call options.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of Vivid Seats from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Benchmark reduced their target price on shares of Vivid Seats from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley lowered their price target on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Bank of America restated an "underperform" rating and set a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Finally, Royal Bank of Canada dropped their price target on Vivid Seats from $6.00 to $4.00 and set a "sector perform" rating on the stock 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 MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.49.

Institutional Trading of Vivid Seats

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. purchased a new stake in Vivid Seats in the fourth quarter valued at $46,000. Quinn Opportunity Partners LLC acquired a new position in shares of Vivid Seats in the 4th quarter valued at about $46,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Vivid Seats in the fourth quarter worth about $53,000. BNP Paribas Financial Markets acquired a new stake in Vivid Seats during the fourth quarter worth about $53,000. Finally, Pictet Asset Management Holding SA purchased a new position in Vivid Seats during the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 39.92% of the company's stock.

Vivid Seats Price Performance

SEAT traded down $0.02 during trading on Friday, reaching $2.69. 207,869 shares of the company's stock were exchanged, compared to its average volume of 1,383,267. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. Vivid Seats has a 1 year low of $2.15 and a 1 year high of $6.09. The company's fifty day simple moving average is $3.18 and its 200-day simple moving average is $3.73.

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.