Vivid Seats (NASDAQ:SEAT) PT Raised to $9.00 at Maxim Group

Vivid Seats (NASDAQ:SEAT) had its target price hoisted by investment analysts at Maxim Group from $7.00 to $9.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target would suggest a potential upside of 66.36% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Craig Hallum assumed coverage on shares of Vivid Seats in a research note on Friday, February 9th. They issued a “buy” rating and a $10.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada lowered their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a report 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.15.

Vivid Seats Stock Performance

Shares of NASDAQ SEAT traded down $0.04 during mid-day trading on Wednesday, hitting $5.41. The company had a trading volume of 56,898 shares, compared to its average volume of 1,520,039. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46. The business’s 50-day simple moving average is $5.68 and its 200-day simple moving average is $6.22. Vivid Seats has a 12 month low of $5.11 and a 12 month high of $9.89. The firm has a market cap of $1.14 billion, a P/E ratio of 9.91, a PEG ratio of 2.63 and a beta of 1.23.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Vivid Seats by 3.9% in the third 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 during the period. Boston Partners grew its stake in Vivid Seats by 118.3% in the 4th 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 in the last quarter. FMR LLC raised its holdings in Vivid Seats by 6.8% during the 3rd quarter. FMR LLC now owns 3,520,887 shares of the company’s stock valued at $22,604,000 after acquiring an additional 223,676 shares during the period. Clearbridge Investments LLC bought a new position in shares of Vivid Seats in the fourth quarter worth $10,815,000. Finally, Brandywine Global Investment Management LLC lifted its holdings in Vivid Seats by 8.2% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 1,515,576 shares of the company’s stock worth $9,730,000 after purchasing 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.