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

Vivid Seats Inc. (NASDAQ:SEAT)’s share price 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 traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SEAT shares. Craig Hallum started coverage on shares of Vivid Seats in a research report on Friday, February 9th. They issued a “buy” rating and a $10.00 price objective on the stock. Royal Bank of Canada cut their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 6th. Maxim Group started coverage on shares of Vivid Seats in a research note on Wednesday. They set a “buy” rating and a $7.00 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $15.00 price target on shares of Vivid Seats in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.94.

Vivid Seats Trading Up 4.8 %

The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 2.45 and a beta of 1.20. The company’s 50-day moving average is $5.80 and its 200-day moving average is $6.31.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in Vivid Seats in the first quarter worth approximately $230,000. HBK Investments L P purchased a new position in Vivid Seats in the fourth quarter worth approximately $4,424,000. Vanguard Group Inc. lifted its stake in Vivid Seats by 372.8% in the fourth 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 last quarter. Goldman Sachs Group Inc. lifted its stake in Vivid Seats by 417.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 257,527 shares of the company’s stock worth $1,628,000 after acquiring an additional 207,715 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Vivid Seats in the fourth quarter worth approximately $83,000. 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.