Bank of America Reiterates “Underperform” Rating for Vivid Seats (NASDAQ:SEAT)

Vivid Seats (NASDAQ:SEAT)‘s stock had its “underperform” rating reaffirmed by Bank of America in a research note issued on Thursday,Benzinga reports. They presently have a $2.60 price objective on the stock, down from their previous price objective of $6.25. Bank of America‘s price target indicates a potential downside of 10.34% from the company’s previous close.

Vivid Seats Trading Down 23.1 %

SEAT stock opened at $2.90 on Thursday. The firm has a 50-day moving average of $4.36 and a two-hundred day moving average of $4.04. Vivid Seats has a 12 month low of $2.67 and a 12 month high of $6.09. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in Vivid Seats by 3.4% in the third quarter. FMR LLC now owns 5,970,058 shares of the company’s stock valued at $22,089,000 after purchasing an additional 195,625 shares during the period. Emeth Value Capital LLC acquired a new stake in shares of Vivid Seats in the fourth quarter valued at $23,250,000. Vanguard Group Inc. increased its stake in Vivid Seats by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock worth $22,676,000 after purchasing an additional 22,285 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Vivid Seats by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock worth $16,636,000 after buying an additional 125,035 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Vivid Seats by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock valued at $9,301,000 after acquiring an additional 33,181 shares in the last quarter. 39.92% of the stock is currently owned by hedge funds and other 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.