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

Vivid Seats Inc. (NASDAQ:SEAT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.49, but opened at $5.81. Vivid Seats shares last traded at $5.75, with a volume of 498,009 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Craig Hallum initiated coverage on Vivid Seats in a research note on Friday, February 9th. They issued a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group reduced their target price on Vivid Seats from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada dropped their price target on 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. Benchmark reaffirmed a “buy” rating and set a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, May 1st. Finally, Maxim Group increased their price target on shares of Vivid Seats from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.15.

Vivid Seats Trading Up 1.9 %

The company has a fifty day simple moving average of $5.68 and a two-hundred day simple moving average of $6.22. The company has a market capitalization of $1.15 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46.

Institutional Investors Weigh In On Vivid Seats

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEAT. Boston Partners boosted its holdings in Vivid Seats by 118.3% during the fourth quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after acquiring an additional 1,949,891 shares during the period. Clearbridge Investments LLC bought a new stake in Vivid Seats during the 4th quarter valued at approximately $10,815,000. Blackstone Inc. acquired a new stake in Vivid Seats in the 4th quarter valued at approximately $4,424,000. HBK Investments L P acquired a new stake in Vivid Seats in the 4th quarter valued at approximately $4,424,000. Finally, Verition Fund Management LLC increased its position in 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 during the period. 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.