Vivid Seats (NASDAQ:SEAT) Shares Down 4.3% – Here’s What Happened

Vivid Seats Inc. (NASDAQ:SEAT) shares fell 4.3% during trading on Monday . The stock traded as low as $3.37 and last traded at $3.37. 83,898 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 1,397,580 shares. The stock had previously closed at $3.52.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SEAT shares. Deutsche Bank Aktiengesellschaft cut their price objective on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Maxim Group reduced their price objective on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada lowered their target price on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Craig Hallum reduced their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, Canaccord Genuity Group lowered their price target on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Vivid Seats Trading Down 1.7 %

The business has a 50 day moving average of $3.70 and a 200-day moving average of $4.30. The stock has a market cap of $718.80 million, a PE ratio of 6.15, a price-to-earnings-growth ratio of 16.30 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds have recently modified their holdings of SEAT. Oppenheimer & Co. Inc. acquired a new stake in shares of Vivid Seats during the third quarter worth $37,000. Principal Financial Group Inc. acquired a new position in shares of Vivid Seats during the 2nd quarter valued at about $61,000. Marshall Wace LLP acquired a new stake in shares of Vivid Seats in the second quarter worth approximately $67,000. Intech Investment Management LLC acquired a new position in Vivid Seats during the third quarter worth approximately $87,000. Finally, Ashton Thomas Securities LLC boosted its holdings in shares of Vivid Seats by 83.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock valued at $95,000 after purchasing an additional 11,655 shares during the last quarter. 39.92% of the stock is owned by institutional investors and hedge funds.

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.