Vivid Seats (NASDAQ:SEAT) Stock Price Up 6.4% – Should You Buy?

Vivid Seats Inc. (NASDAQ:SEAT) shot up 6.4% on Wednesday . The stock traded as high as $2.91 and last traded at $2.90. 1,251,434 shares changed hands during trading, a decline of 3% from the average session volume of 1,286,439 shares. The stock had previously closed at $2.72.

Wall Street Analysts Forecast Growth

SEAT has been the topic of several recent research reports. Benchmark decreased their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Canaccord Genuity Group reduced their target price on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada decreased their target price on shares of 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. Morgan Stanley reduced their price objective on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Raymond James cut Vivid Seats from a “moderate buy” rating to a “hold” rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Stock Performance

The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The company has a 50-day simple moving average of $4.21 and a 200 day simple moving average of $3.98.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SEAT. Oppenheimer & Co. Inc. purchased a new stake in Vivid Seats in the 3rd quarter valued at about $37,000. Stratos Wealth Partners LTD. bought a new stake in shares of Vivid Seats during the fourth quarter valued at approximately $46,000. Quinn Opportunity Partners LLC purchased a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $46,000. Stoneridge Investment Partners LLC bought a new position in Vivid Seats in the fourth quarter worth approximately $53,000. Finally, BNP Paribas Financial Markets bought a new position in Vivid Seats in the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Company Profile

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.