Vivid Seats (NASDAQ:SEAT) Shares Up 2.2% - Here's What Happened

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report)'s stock price was up 2.2% on Monday . The company traded as high as $2.96 and last traded at $3.00. Approximately 104,073 shares traded hands during trading, a decline of 92% from the average daily volume of 1,330,823 shares. The stock had previously closed at $2.93.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SEAT. Benchmark reduced their price target 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 cut their target price on shares of Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Canaccord Genuity Group decreased their target price on Vivid Seats from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. 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. Finally, Raymond James downgraded Vivid Seats from a "moderate buy" rating to a "hold" rating in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Vivid Seats presently has a consensus rating of "Hold" and a consensus target price of $5.49.

Vivid Seats Stock Up 4.0 %

The company has a 50 day moving average price of $3.87 and a 200-day moving average price of $3.87. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

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Hedge Funds Weigh In On Vivid Seats

Several large investors have recently bought and sold shares of SEAT. SG Americas Securities LLC boosted its holdings in shares of Vivid Seats by 8.5% in the fourth quarter. SG Americas Securities LLC now owns 37,065 shares of the company's stock valued at $172,000 after acquiring an additional 2,909 shares in the last quarter. Plan Group Financial LLC increased its position in shares of Vivid Seats by 9.4% during the 4th quarter. Plan Group Financial LLC now owns 35,330 shares of the company's stock valued at $164,000 after purchasing an additional 3,048 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Vivid Seats by 17.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company's stock worth $136,000 after buying an additional 4,288 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vivid Seats by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company's stock valued at $3,434,000 after buying an additional 5,828 shares during the period. Finally, American Century Companies Inc. boosted its stake in Vivid Seats by 9.6% during the fourth quarter. American Century Companies Inc. now owns 96,396 shares of the company's stock valued at $446,000 after buying an additional 8,450 shares in the last quarter. 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.