Vivid Seats (NASDAQ:SEAT) Stock Price Down 3.7% – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT) dropped 3.7% during trading on Monday . The stock traded as low as $2.75 and last traded at $2.73. Approximately 53,447 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,349,783 shares. The stock had previously closed at $2.83.

Analysts Set New Price Targets

SEAT has been the subject of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Raymond James cut Vivid Seats from a “moderate buy” rating to a “hold” rating in a report on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats in a research note 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 on the stock in a report on Thursday, March 13th. Finally, Benchmark cut their price target on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.49.

Vivid Seats Stock Down 3.5 %

The business has a fifty day moving average price of $3.45 and a 200 day moving average price of $3.78. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Institutional Investors Weigh In On Vivid Seats

A number of hedge funds have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. bought a new position in Vivid Seats in the 4th quarter valued at approximately $46,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Vivid Seats during the 4th quarter valued at $46,000. BNP Paribas Financial Markets acquired a new stake in shares of Vivid Seats during the 4th quarter valued at $53,000. Stoneridge Investment Partners LLC bought a new stake in Vivid Seats during the 4th quarter worth $53,000. Finally, Pictet Asset Management Holding SA acquired a new position in Vivid Seats in the 4th quarter worth about $55,000. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.