Short Interest in Vivid Seats Inc. (NASDAQ:SEAT) Grows By 20.6%

Vivid Seats Inc. (NASDAQ:SEAT) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 9,650,000 shares, a growth of 20.6% from the March 31st total of 8,000,000 shares. Approximately 13.1% of the shares of the stock are sold short. Based on an average trading volume of 1,570,000 shares, the days-to-cover ratio is presently 6.1 days.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently made changes to their positions in SEAT. Allspring Global Investments Holdings LLC acquired a new position in Vivid Seats during the 1st quarter valued at about $230,000. HBK Investments L P bought a new position in shares of Vivid Seats in the fourth quarter valued at approximately $4,424,000. Blackstone Inc. purchased a new position in shares of Vivid Seats during the fourth quarter valued at approximately $4,424,000. Verition Fund Management LLC grew its holdings in Vivid Seats by 308.5% during the fourth 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 stake in Vivid Seats during the fourth quarter worth $3,792,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SEAT shares. Benchmark reissued a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Wednesday, March 6th. Maxim Group initiated coverage on Vivid Seats in a research report on Wednesday, April 17th. They set a “buy” rating and a $7.00 price objective for the company. Royal Bank of Canada dropped 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 report on Wednesday, March 6th. Finally, Craig Hallum assumed 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Vivid Seats presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.94.

Vivid Seats Stock Down 6.1 %

Shares of Vivid Seats stock traded down $0.34 during trading hours on Tuesday, reaching $5.26. The company’s stock had a trading volume of 1,473,103 shares, compared to its average volume of 1,552,639. The company has a market capitalization of $1.11 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.83 and a beta of 1.20. The stock’s fifty day simple moving average is $5.76 and its two-hundred day simple moving average is $6.26. Vivid Seats has a one year low of $5.11 and a one year high of $9.89. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.46 and a current ratio of 0.50.

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.