Vivid Seats (NASDAQ:SEAT) Stock Price Up 3.8% - Here's What Happened
Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report)'s share price was up 3.8% during mid-day trading on Tuesday . The stock traded as high as $2.83 and last traded at $2.86. Approximately 262,702 shares were traded during trading, a decline of 80% from the average daily volume of 1,311,601 shares. The stock had previously closed at $2.75.
Several research firms have commented on SEAT. Benchmark decreased their target price on shares of Vivid Seats from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Canaccord Genuity Group cut their target price on shares of Vivid Seats from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Bank of America restated an "underperform" rating and set a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Raymond James lowered Vivid Seats from a "moderate buy" rating to a "hold" rating in a report on Thursday, March 13th. Finally, Royal Bank of Canada lowered their price objective on shares of Vivid Seats from $6.00 to $4.00 and set a "sector perform" rating on the stock in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $5.49.
Check Out Our Latest Stock Analysis on Vivid Seats
The firm has a fifty day moving average of $4.09 and a 200-day moving average of $3.93. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.
A number of institutional investors have recently bought and sold shares of SEAT. SG Americas Securities LLC lifted its stake in 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 buying an additional 2,909 shares during the period. Plan Group Financial LLC increased its stake in shares of Vivid Seats by 9.4% in the 4th quarter. Plan Group Financial LLC now owns 35,330 shares of the company's stock valued at $164,000 after acquiring an additional 3,048 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 valued at $136,000 after acquiring an additional 4,288 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Vivid Seats by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company's stock worth $3,434,000 after acquiring an additional 5,828 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings 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 purchasing an additional 8,450 shares during the period. Institutional investors and hedge funds own 39.92% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Vivid Seats, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vivid Seats wasn't on the list.
While Vivid Seats currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
