Vivid Seats Inc. (NASDAQ:SEAT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have received an average rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.94.

Several brokerages recently commented on SEAT. Maxim Group started coverage on shares of Vivid Seats in a report on Wednesday, April 17th. They issued a “buy” rating and a $7.00 target price on the stock. Royal Bank of Canada cut their price objective on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company 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 report on Wednesday, March 6th. Finally, Craig Hallum began coverage on Vivid Seats in a report on Friday, February 9th. They set a “buy” rating and a $10.00 price target for the company.

Vivid Seats Trading Down 6.1 %

NASDAQ:SEAT opened at $5.26 on Wednesday. The company’s 50 day moving average is $5.76 and its 200-day moving average is $6.26. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 2.52. Vivid Seats has a 12 month low of $5.11 and a 12 month high of $9.89. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 2.83 and a beta of 1.20.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds have recently made changes to their positions in SEAT. Allspring Global Investments Holdings LLC bought a new stake in Vivid Seats in the first quarter valued at about $230,000. HBK Investments L P bought a new stake in shares of Vivid Seats in the 4th quarter valued at approximately $4,424,000. Blackstone Inc. bought a new stake in shares of Vivid Seats in the 4th quarter valued at approximately $4,424,000. Verition Fund Management LLC raised its holdings in shares of Vivid Seats by 308.5% in the 4th quarter. Verition Fund Management LLC now owns 836,222 shares of the company’s stock worth $5,285,000 after buying an additional 631,530 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in shares of Vivid Seats during the 4th quarter worth approximately $3,792,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

About Vivid Seats

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.