Vivid Seats (NASDAQ:SEAT) Reaches New 1-Year Low – Here’s What Happened

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

Analysts Set New Price Targets

Several analysts have weighed in on SEAT shares. Benchmark dropped their price target on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley cut their price target 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. Royal Bank of Canada decreased their price objective on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Canaccord Genuity Group cut their price objective on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Bank of America restated an “underperform” rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.49.

Vivid Seats Stock Down 0.6 %

The company has a 50 day moving average of $3.76 and a two-hundred day moving average of $3.85. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in Vivid Seats in the 3rd quarter worth $87,000. Charles Schwab Investment Management Inc. increased its stake in shares of Vivid Seats by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after purchasing an additional 194,561 shares in the last quarter. FMR LLC raised its position in shares of Vivid Seats by 3.4% during the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Vivid Seats by 23.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,800 shares of the company’s stock worth $332,000 after purchasing an additional 16,976 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in Vivid Seats in the 3rd quarter valued at about $544,000. 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.