Vivid Seats (NASDAQ:SEAT) Stock Price Up 3.8% - Here's What Happened

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) shot up 3.8% during mid-day trading on Tuesday . The stock traded as high as $2.83 and last traded at $2.86. 262,702 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,311,601 shares. The stock had previously closed at $2.75.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Benchmark cut their price objective on shares of Vivid Seats from $8.00 to $6.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Canaccord Genuity Group reduced their price target on Vivid Seats from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. 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. Raymond James cut Vivid Seats from a "moderate buy" rating to a "hold" rating in a research report on Thursday, March 13th. Finally, Morgan Stanley cut their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Vivid Seats has a consensus rating of "Hold" and an average price target of $5.49.

Vivid Seats Price Performance

The firm's 50-day simple moving average is $3.94 and its 200-day simple moving average is $3.89. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Vivid Seats by 3.4% during 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 during the last quarter. Emeth Value Capital LLC purchased a new position in shares of Vivid Seats during the 4th quarter valued at about $23,250,000. Vanguard Group Inc. lifted its position in Vivid Seats by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company's stock worth $22,676,000 after buying an additional 22,285 shares during the last quarter. Geode Capital Management LLC boosted its stake in Vivid Seats by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company's stock worth $9,301,000 after buying an additional 33,181 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Vivid Seats by 18.4% during the fourth quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company's stock valued at $9,051,000 after acquiring an additional 303,878 shares during the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

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.