Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) shares hit a new 52-week low on Thursday after Benchmark lowered their price target on the stock from $8.00 to $6.00. Benchmark currently has a buy rating on the stock. Vivid Seats traded as low as $2.51 and last traded at $2.76, with a volume of 579844 shares. The stock had previously closed at $2.90.
Separately, Bank of America reiterated an "underperform" rating and issued a $2.60 price target (down from $6.25) on shares of Vivid Seats in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $6.06.
Check Out Our Latest Stock Analysis on Vivid Seats
Hedge Funds Weigh In On Vivid Seats
A number of hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in Vivid Seats by 3.4% in 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. Emeth Value Capital LLC bought a new stake in Vivid Seats during the fourth quarter worth approximately $23,250,000. Vanguard Group Inc. grew its position in Vivid Seats by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company's stock worth $22,676,000 after purchasing an additional 22,285 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Vivid Seats by 2.9% during the 3rd 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 during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Vivid Seats by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company's stock valued at $9,301,000 after purchasing an additional 33,181 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.
Vivid Seats Price Performance
The stock's 50-day simple moving average is $4.36 and its two-hundred day simple moving average is $4.04. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.
About Vivid Seats
(
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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.
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