Vivid Seats (NASDAQ:SEAT) Reaches New 52-Week Low - Here's What Happened

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $2.49 and last traded at $2.55, with a volume of 1284 shares changing hands. The stock had previously closed at $2.57.

Analysts Set New Price Targets

SEAT has been the subject of a number of research reports. Raymond James cut shares of Vivid Seats from a "moderate buy" rating to a "hold" rating in a research note on Thursday, March 13th. Bank of America reiterated an "underperform" rating and set a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Benchmark decreased their target price on 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 dropped their price target on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada decreased their price objective on Vivid Seats from $6.00 to $4.00 and set a "sector perform" rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.49.

Vivid Seats Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The firm's 50 day moving average price is $3.51 and its two-hundred day moving average price is $3.79.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Vivid Seats by 61.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,278 shares of the company's stock worth $673,000 after purchasing an additional 55,478 shares during the period. Wolverine Trading LLC acquired a new position in Vivid Seats in the fourth quarter valued at about $84,000. Shay Capital LLC boosted its stake in Vivid Seats by 1,650.0% during the fourth quarter. Shay Capital LLC now owns 203,000 shares of the company's stock worth $940,000 after buying an additional 191,400 shares during the period. Silver Rock Financial LP increased its position in shares of Vivid Seats by 9.6% during the fourth quarter. Silver Rock Financial LP now owns 1,138,896 shares of the company's stock valued at $5,273,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Vivid Seats by 72.9% in the 4th quarter. Deutsche Bank AG now owns 73,648 shares of the company's stock valued at $341,000 after acquiring an additional 31,053 shares during the period. Institutional investors and hedge funds own 39.92% of the company's stock.

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.