Vivid Seats (NASDAQ:SEAT) Shares Down 3.7% - Time to Sell?

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) dropped 3.7% during trading on Monday . The stock traded as low as $2.75 and last traded at $2.73. Approximately 53,447 shares changed hands during trading, a decline of 96% from the average daily volume of 1,349,783 shares. The stock had previously closed at $2.83.

Analyst Upgrades and Downgrades

SEAT has been the topic of several research reports. Royal Bank of Canada dropped 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. Canaccord Genuity Group reduced their price objective 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. Raymond James downgraded shares of Vivid Seats from a "moderate buy" rating to a "hold" rating in a report on Thursday, March 13th. Bank of America reissued an "underperform" rating and issued a $2.60 price target (down from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Finally, Benchmark dropped their price objective on Vivid Seats from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $5.49.

Vivid Seats Price Performance

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 business has a fifty day moving average price of $3.32 and a 200 day moving average price of $3.75.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently modified their holdings of SEAT. Emeth Value Capital LLC purchased a new position in Vivid Seats in the fourth quarter valued at about $23,250,000. Vanguard Group Inc. raised its holdings in Vivid Seats by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company's stock valued at $22,676,000 after acquiring an additional 22,285 shares in the last quarter. Geode Capital Management LLC raised its stake in Vivid Seats by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company's stock valued at $9,301,000 after buying an additional 33,181 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Vivid Seats by 18.4% during the fourth quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company's stock worth $9,051,000 after purchasing an additional 303,878 shares during the last quarter. Finally, State Street Corp boosted 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 valued at $5,502,000 after buying an additional 49,870 shares during the period. 39.92% of the stock is 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.