Vivid Seats (NASDAQ:SEAT) Shares Gap Up to $5.49

Vivid Seats Inc. (NASDAQ:SEAT) gapped up before the market opened on Wednesday . The stock had previously closed at $5.49, but opened at $5.64. Vivid Seats shares last traded at $5.65, with a volume of 100,247 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SEAT shares. Craig Hallum started coverage on Vivid Seats in a report on Friday, February 9th. They set a “buy” rating and a $10.00 price objective on the stock. Royal Bank of Canada cut their price objective on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 6th. Finally, Benchmark reissued a “buy” rating and set a $15.00 price objective on shares of Vivid Seats in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.31.

Vivid Seats Stock Performance

The company has a 50-day moving average price of $5.80 and a two-hundred day moving average price of $6.32. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $1.19 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 2.48 and a beta of 1.20.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its position in shares of Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock worth $29,000 after acquiring an additional 2,090 shares in the last quarter. Bank of America Corp DE bought a new stake in Vivid Seats in the 1st quarter valued at about $33,000. DekaBank Deutsche Girozentrale bought a new stake in Vivid Seats in the 3rd quarter valued at about $37,000. Lazard Asset Management LLC bought a new stake in Vivid Seats in the 3rd quarter valued at about $37,000. Finally, Quarry LP increased its position in Vivid Seats by 291.2% in the 1st quarter. Quarry LP now owns 6,584 shares of the company’s stock valued at $50,000 after buying an additional 4,901 shares in the last quarter. 39.92% of the stock is 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.