Vivid Seats (NASDAQ:SEAT) Sees Large Volume Increase – Here’s What Happened

Shares of Vivid Seats Inc. (NASDAQ:SEAT) saw unusually-high trading volume on Wednesday . Approximately 949,853 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 1,279,850 shares.The stock last traded at $2.69 and had previously closed at $3.77.

Analyst Ratings Changes

Several research firms have commented on SEAT. Canaccord Genuity Group lowered their price objective on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada lowered their price target on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Thursday. Bank of America reissued an “underperform” rating and set a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a research note on Thursday. Morgan Stanley lowered their price objective on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Benchmark cut their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Vivid Seats has an average rating of “Hold” and an average price target of $5.49.

Vivid Seats Stock Down 3.1 %

The stock’s 50 day moving average price is $4.33 and its 200-day moving average price is $4.03. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Institutional Investors Weigh In On Vivid Seats

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Vivid Seats by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock valued at $2,723,000 after acquiring an additional 194,561 shares in the last quarter. Rhumbline Advisers raised its position in Vivid Seats by 64.9% during the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after purchasing an additional 65,620 shares in the last quarter. Emeth Value Capital LLC bought a new stake in Vivid Seats during the 4th quarter valued at $23,250,000. Covalent Partners LLC lifted its holdings in shares of Vivid Seats by 66.7% in the 3rd quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock worth $1,388,000 after buying an additional 150,000 shares during the period. Finally, Barclays PLC grew its position in shares of Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company’s stock worth $462,000 after buying an additional 97,546 shares in the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.