Vivid Seats (NASDAQ:SEAT) Shares Down 4.7% – Here’s What Happened

Vivid Seats Inc. (NASDAQ:SEAT)’s stock price dropped 4.7% during mid-day trading on Monday . The company traded as low as $3.40 and last traded at $3.41. Approximately 124,122 shares traded hands during trading, a decline of 91% from the average daily volume of 1,393,854 shares. The stock had previously closed at $3.58.

Analyst Ratings Changes

SEAT has been the topic of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $4.00 target price (down previously from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Craig Hallum dropped their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Royal Bank of Canada lowered their target price on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Benchmark cut their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Citigroup lowered their price objective 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.67.

Vivid Seats Stock Performance

The firm has a market cap of $698.01 million, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 15.71 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average is $3.76 and its 200 day moving average is $4.45.

Hedge Funds Weigh In On Vivid Seats

A number of large investors have recently made changes to their positions in SEAT. Oppenheimer & Co. Inc. bought a new position in Vivid Seats during the 3rd quarter worth $37,000. Principal Financial Group Inc. bought a new position in Vivid Seats during the second quarter worth about $61,000. Marshall Wace LLP bought a new position in Vivid Seats during the second quarter worth about $67,000. Intech Investment Management LLC acquired a new stake in Vivid Seats in the 3rd quarter worth about $87,000. Finally, Ashton Thomas Securities LLC boosted its holdings in 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 during the period. Institutional investors 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.