Vivid Seats (NASDAQ:SEAT) Lowered to Hold Rating by Raymond James

Raymond James cut shares of Vivid Seats (NASDAQ:SEAT) from a moderate buy rating to a hold rating in a report released on Thursday,Zacks.com reports.

Other analysts have also issued reports about the company. Benchmark lowered their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday. Canaccord Genuity Group lowered their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday. Bank of America reaffirmed an “underperform” rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a report on Thursday. Royal Bank of Canada lowered their target price on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Morgan Stanley lowered their target price on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Price Performance

Shares of Vivid Seats stock 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. Vivid Seats has a fifty-two week low of $2.51 and a fifty-two week high of $6.09. The business has a 50-day moving average price of $4.29 and a 200 day moving average price of $4.01.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently made changes to their positions in SEAT. Oppenheimer & Co. Inc. acquired a new position in shares of Vivid Seats during the third quarter worth approximately $37,000. Stratos Wealth Partners LTD. acquired a new stake in Vivid Seats in the fourth quarter worth approximately $46,000. Quinn Opportunity Partners LLC acquired a new stake in Vivid Seats in the fourth quarter worth approximately $46,000. Stoneridge Investment Partners LLC acquired a new stake in Vivid Seats in the fourth quarter worth approximately $53,000. Finally, BNP Paribas Financial Markets acquired a new stake in Vivid Seats in the fourth quarter worth approximately $53,000. 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.