Vivid Seats (NASDAQ:SEAT) Reaches New 52-Week Low – Here’s Why

Vivid Seats Inc. (NASDAQ:SEAT)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $3.34 and last traded at $3.38, with a volume of 371725 shares. The stock had previously closed at $3.56.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. DA Davidson reduced their price target on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Citigroup cut their target price on Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada cut their target price on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft cut their target price on Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $4.00 target price (down from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.67.

Vivid Seats Stock Down 3.7 %

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.79. The firm has a market capitalization of $713.71 million, a P/E ratio of 6.84, a P/E/G ratio of 17.12 and a beta of 1.18. The stock has a fifty day moving average price of $3.92 and a two-hundred day moving average price of $4.64.

Institutional Investors Weigh In On Vivid Seats

Institutional investors have recently made changes to their positions in the company. Clearline Capital LP increased its holdings in shares of Vivid Seats by 105.6% in the 2nd quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock valued at $4,432,000 after acquiring an additional 395,942 shares during the last quarter. Janus Henderson Group PLC grew its stake in Vivid Seats by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after buying an additional 273,734 shares during the last quarter. Clearbridge Investments LLC grew its stake in Vivid Seats by 17.6% during the 1st quarter. Clearbridge Investments LLC now owns 2,012,878 shares of the company’s stock worth $12,057,000 after buying an additional 301,623 shares during the last quarter. Swiss National Bank grew its stake in Vivid Seats by 14.0% during the 1st quarter. Swiss National Bank now owns 132,100 shares of the company’s stock worth $791,000 after buying an additional 16,200 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Vivid Seats by 180.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after buying an additional 1,680,327 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors.

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.