Vivid Seats (NASDAQ:SEAT) Given New $6.00 Price Target at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price target reduced by investment analysts at Benchmark from $8.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective points to a potential upside of 114.67% from the stock’s current price.

Separately, Bank of America reissued an “underperform” rating and issued a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Vivid Seats currently has an average rating of “Moderate Buy” and a consensus target price of $6.06.

Vivid Seats Price Performance

SEAT traded down $0.11 on Thursday, reaching $2.80. The company had a trading volume of 1,705,437 shares, compared to its average volume of 1,305,829. Vivid Seats has a 1 year low of $2.52 and a 1 year high of $6.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The stock has a 50-day moving average price of $4.36 and a 200-day moving average price of $4.04.

Hedge Funds Weigh In On Vivid Seats

A number of large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Vivid Seats by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after acquiring an additional 194,561 shares during the period. Rhumbline Advisers lifted its holdings in shares of Vivid Seats by 64.9% in the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after buying an additional 65,620 shares during the period. Emeth Value Capital LLC purchased a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $23,250,000. Covalent Partners LLC grew its holdings in Vivid Seats by 66.7% during the third quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock worth $1,388,000 after acquiring an additional 150,000 shares during the period. Finally, Barclays PLC raised its position in Vivid Seats by 353.2% in the third quarter. Barclays PLC now owns 125,163 shares of the company’s stock worth $462,000 after acquiring an additional 97,546 shares in the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

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.