Vivid Seats (NASDAQ:SEAT) Stock Price Up 7.1% – Still a Buy?

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price traded up 7.1% during trading on Tuesday . The stock traded as high as $4.73 and last traded at $4.66. 1,285,909 shares were traded during trading, an increase of 40% from the average session volume of 920,529 shares. The stock had previously closed at $4.35.

Wall Street Analysts Forecast Growth

SEAT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Maxim Group decreased 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. Citigroup cut their target price on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Royal Bank of Canada decreased their price target on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Finally, Piper Sandler reissued a “neutral” rating and issued a $4.00 price objective (down from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.63.

Vivid Seats Stock Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The stock has a 50-day moving average price of $3.84 and a 200-day moving average price of $4.18.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of SEAT. Oppenheimer & Co. Inc. acquired a new stake in shares of Vivid Seats during the third quarter worth approximately $37,000. Marshall Wace LLP acquired a new position in Vivid Seats during the 2nd quarter worth $67,000. Intech Investment Management LLC bought a new stake in shares of Vivid Seats in the 3rd quarter worth about $87,000. Ashton Thomas Securities LLC raised its stake 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Vivid Seats by 57.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,898 shares of the company’s stock worth $178,000 after purchasing an additional 11,274 shares during the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

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.