Vivid Seats (NASDAQ:SEAT) Shares Gap Up to $5.49

Shares of Vivid Seats Inc. (NASDAQ:SEAT) gapped up prior to trading on Wednesday . The stock had previously closed at $5.49, but opened at $5.64. Vivid Seats shares last traded at $5.65, with a volume of 100,247 shares.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SEAT. Royal Bank of Canada dropped their target price on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $15.00 target price on shares of Vivid Seats in a research report on Wednesday, March 6th. Finally, Craig Hallum started coverage on Vivid Seats in a research report on Friday, February 9th. They issued a “buy” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.31.

Vivid Seats Stock Performance

The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 2.48 and a beta of 1.20. The stock has a fifty day moving average price of $5.80 and a 200 day moving average price of $6.32.

Institutional Trading of Vivid Seats

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of Vivid Seats by 3.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,240,177 shares of the company’s stock worth $27,222,000 after acquiring an additional 160,851 shares during the period. Vanguard Group Inc. lifted its position in shares of Vivid Seats by 372.8% in the 4th quarter. Vanguard Group Inc. now owns 3,926,335 shares of the company’s stock worth $24,814,000 after acquiring an additional 3,095,941 shares during the period. Boston Partners lifted its position in shares of Vivid Seats by 118.3% in the 4th quarter. Boston Partners now owns 3,597,970 shares of the company’s stock worth $22,626,000 after acquiring an additional 1,949,891 shares during the period. FMR LLC lifted its position in shares of Vivid Seats by 6.8% in the 3rd quarter. FMR LLC now owns 3,520,887 shares of the company’s stock worth $22,604,000 after acquiring an additional 223,676 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Vivid Seats by 22.7% in the 2nd quarter. BlackRock Inc. now owns 1,742,068 shares of the company’s stock worth $13,797,000 after acquiring an additional 321,956 shares during the period. Institutional investors and hedge funds 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.