Canaccord Genuity Group Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $5.00

Vivid Seats (NASDAQ:SEAT) had its price objective cut by Canaccord Genuity Group from $6.00 to $5.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

SEAT has been the subject of a number of other research reports. Bank of America reaffirmed 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. Benchmark dropped their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Trading Up 1.8 %

NASDAQ:SEAT opened at $2.86 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The stock has a 50-day simple moving average of $4.29 and a two-hundred day simple moving average of $4.01. Vivid Seats has a 52-week low of $2.51 and a 52-week high of $6.09.

Institutional Investors Weigh In On Vivid Seats

A number of hedge funds have recently made changes to their positions in SEAT. SG Americas Securities LLC raised its position in Vivid Seats by 8.5% during the fourth quarter. SG Americas Securities LLC now owns 37,065 shares of the company’s stock valued at $172,000 after purchasing an additional 2,909 shares during the period. Plan Group Financial LLC raised its position in Vivid Seats by 9.4% during the fourth quarter. Plan Group Financial LLC now owns 35,330 shares of the company’s stock valued at $164,000 after purchasing an additional 3,048 shares during the period. Price T Rowe Associates Inc. MD raised its position in Vivid Seats by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company’s stock valued at $136,000 after purchasing an additional 4,288 shares during the period. Charles Schwab Investment Management Inc. raised its position in Vivid Seats by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company’s stock valued at $3,434,000 after purchasing an additional 5,828 shares during the period. Finally, American Century Companies Inc. raised its position 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. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

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.