Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $10.00 at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price target reduced by Canaccord Genuity Group from $12.00 to $10.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 87.27% from the stock’s previous close.

Several other research analysts also recently commented on SEAT. Benchmark reaffirmed a “buy” rating and issued a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, May 1st. Maxim Group boosted their price objective on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum assumed coverage on shares of Vivid Seats in a research note on Friday, February 9th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Royal Bank of Canada cut their target price on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.15.

Vivid Seats Trading Down 1.3 %

Vivid Seats stock traded down $0.07 during trading hours on Wednesday, reaching $5.34. The company had a trading volume of 712,207 shares, compared to its average volume of 1,531,620. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46. Vivid Seats has a 12-month low of $5.11 and a 12-month high of $9.89. The company has a 50-day moving average price of $5.70 and a 200 day moving average price of $6.23. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 2.63 and a beta of 1.23.

Institutional Trading of Vivid Seats

Several large investors have recently bought and sold shares of SEAT. Massachusetts Financial Services Co. MA raised its position in shares of Vivid Seats by 3.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,240,177 shares of the company’s stock worth $27,222,000 after acquiring an additional 160,851 shares in the last quarter. Boston Partners lifted its position in Vivid Seats by 118.3% during the fourth quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after buying an additional 1,949,891 shares during the period. FMR LLC grew its position in shares of Vivid Seats by 6.8% in the 3rd quarter. FMR LLC now owns 3,520,887 shares of the company’s stock worth $22,604,000 after buying an additional 223,676 shares during the period. Clearbridge Investments LLC bought a new position in shares of Vivid Seats in the 4th quarter worth about $10,815,000. Finally, Brandywine Global Investment Management LLC boosted its stake in Vivid Seats by 8.2% during the third quarter. Brandywine Global Investment Management LLC now owns 1,515,576 shares of the company’s stock worth $9,730,000 after acquiring an additional 114,815 shares in the last quarter. 39.92% of the stock is owned by 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.