Vivid Seats (NASDAQ:SEAT) Shares Down 5.2%

Vivid Seats Inc. (NASDAQ:SEAT) was down 5.2% during mid-day trading on Monday . The company traded as low as $5.60 and last traded at $5.61. Approximately 980,654 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 1,543,990 shares. The stock had previously closed at $5.92.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SEAT shares. Benchmark reissued a “buy” rating and issued a $15.00 price target on shares of Vivid Seats in a research report on Wednesday, March 6th. Maxim Group started coverage on shares of Vivid Seats in a research report on Wednesday, April 17th. They set a “buy” rating and a $7.00 price objective on the stock. Royal Bank of Canada cut their price objective 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 started coverage on shares of Vivid Seats in a research report on Friday, February 9th. They set a “buy” rating and a $10.00 price objective on the stock. Three investment 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.94.

Vivid Seats Stock Performance

The firm’s 50 day moving average price is $5.79 and its 200-day moving average price is $6.28. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 2.83 and a beta of 1.20. 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

A number of institutional investors have recently bought and sold shares of SEAT. Boston Partners lifted its holdings in shares of 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 position in shares of Vivid Seats in the fourth quarter valued at about $10,815,000. Blackstone Inc. bought a new position in shares of Vivid Seats in the fourth quarter valued at about $4,424,000. HBK Investments L P bought a new position in shares of Vivid Seats in the fourth quarter valued at about $4,424,000. Finally, Verition Fund Management LLC raised its holdings in shares of Vivid Seats by 308.5% in the fourth quarter. Verition Fund Management LLC now owns 836,222 shares of the company’s stock valued at $5,285,000 after buying an additional 631,530 shares during the last quarter. 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.