Vivid Seats (NASDAQ:SEAT) Trading 4.8% Higher

Vivid Seats Inc. (NASDAQ:SEAT) shares were up 4.8% on Thursday . The company traded as high as $5.87 and last traded at $5.86. Approximately 335,067 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,567,825 shares. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Maxim Group started coverage on Vivid Seats in a research note on Wednesday. They set a “buy” rating and a $7.00 price target for the company. Benchmark reaffirmed a “buy” rating and set a $15.00 target price on shares of Vivid Seats in a research report on Wednesday, March 6th. Royal Bank of Canada cut their price objective on shares of 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, Craig Hallum began coverage on shares of Vivid Seats in a report on Friday, February 9th. They issued a “buy” rating and a $10.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Vivid Seats has an average rating of “Moderate Buy” and an average target price of $9.94.

Vivid Seats Stock Up 4.3 %

The company has a market capitalization of $1.23 billion, a PE ratio of 10.16, a P/E/G ratio of 2.45 and a beta of 1.20. The stock’s fifty day moving average is $5.80 and its two-hundred day moving average is $6.31. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its stake in Vivid Seats by 84.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after purchasing an additional 2,090 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Vivid Seats during the first quarter worth about $33,000. DekaBank Deutsche Girozentrale bought a new position in shares of Vivid Seats in the 3rd quarter worth $37,000. Lazard Asset Management LLC bought a new position in Vivid Seats in the third quarter valued at $37,000. Finally, Quarry LP increased its position in shares of Vivid Seats by 291.2% during the 1st quarter. Quarry LP now owns 6,584 shares of the company’s stock valued at $50,000 after purchasing an additional 4,901 shares during 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.