Vivid Seats (NASDAQ:SEAT) Stock Price Up 2.2% – Still a Buy?

Vivid Seats Inc. (NASDAQ:SEAT) traded up 2.2% during mid-day trading on Monday . The company traded as high as $2.96 and last traded at $3.00. 104,073 shares changed hands during trading, a decline of 92% from the average session volume of 1,330,823 shares. The stock had previously closed at $2.93.

Analyst Upgrades and Downgrades

SEAT has been the topic of a number of research reports. Canaccord Genuity Group cut their price target on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley dropped their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Raymond James cut Vivid Seats from a “moderate buy” rating to a “hold” rating in a research report on Thursday, March 13th. Bank of America reaffirmed an “underperform” rating and set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Finally, Benchmark lowered their price objective on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Trading Down 2.4 %

The stock’s 50 day moving average is $3.87 and its 200 day moving average is $3.87. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Institutional Investors Weigh In On Vivid Seats

Several institutional investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. acquired a new stake in Vivid Seats during the fourth quarter worth about $46,000. Quinn Opportunity Partners LLC bought a new position in Vivid Seats in the fourth quarter valued at approximately $46,000. BNP Paribas Financial Markets acquired a new position in Vivid Seats during the fourth quarter valued at approximately $53,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Vivid Seats in the 4th quarter valued at $53,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Vivid Seats during the 4th quarter worth $55,000. 39.92% of the stock is currently owned by 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.