Benchmark Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $8.00

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by Benchmark from $10.00 to $8.00 in a research note released on Friday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other equities research analysts also recently commented on SEAT. Maxim Group reduced their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Canaccord Genuity Group reduced their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Citigroup decreased their target price on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Piper Sandler restated a “neutral” rating and set a $4.00 price objective (down from $5.00) on shares of Vivid Seats in a research report on Friday. Finally, DA Davidson dropped their target price on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.67.

Vivid Seats Trading Up 0.3 %

SEAT stock traded up $0.01 during mid-day trading on Friday, reaching $3.59. 187,050 shares of the stock traded hands, compared to its average volume of 1,388,951. Vivid Seats has a 52-week low of $3.36 and a 52-week high of $8.80. The stock’s fifty day moving average is $3.97 and its 200-day moving average is $4.67. The company has a market cap of $747.02 million, a P/E ratio of 6.80, a P/E/G ratio of 15.31 and a beta of 1.18. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds have recently added to or reduced their stakes in SEAT. Harbor Capital Advisors Inc. grew its position in Vivid Seats by 180.0% in the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after acquiring an additional 1,680,327 shares in the last quarter. Invenomic Capital Management LP lifted its stake in shares of Vivid Seats by 289.4% in the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after purchasing an additional 1,143,870 shares during the last quarter. Anson Funds Management LP boosted its holdings in Vivid Seats by 66.5% in the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after purchasing an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new position in Vivid Seats during the first quarter worth $5,690,000. Finally, Vanguard Group Inc. raised its holdings in Vivid Seats by 10.4% during the first quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after buying an additional 410,243 shares in the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.