Vivid Seats Inc. (NASDAQ:SEAT) Short Interest Update

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 8,000,000 shares, an increase of 35.4% from the March 15th total of 5,910,000 shares. Currently, 10.9% of the shares of the company are sold short. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is presently 5.0 days.

Vivid Seats Price Performance

Shares of Vivid Seats stock traded down $0.10 during trading on Friday, hitting $5.69. The stock had a trading volume of 1,593,988 shares, compared to its average volume of 1,667,922. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 2.59 and a beta of 1.20. Vivid Seats has a 12 month low of $5.11 and a 12 month high of $9.89. The business's 50-day moving average is $5.80 and its 200 day moving average is $6.33. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52.

Analysts Set New Price Targets

Several research analysts recently commented on SEAT shares. 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 for the company in a report on Wednesday, March 6th. Craig Hallum began coverage on Vivid Seats in a report on Friday, February 9th. They issued a "buy" rating and a $10.00 price target for the company. Finally, Benchmark reiterated a "buy" rating and issued a $15.00 price target on shares of Vivid Seats in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $10.31.

Hedge Funds Weigh In On Vivid Seats

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its stake in Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company's stock worth $29,000 after buying an additional 2,090 shares in the last quarter. Bank of America Corp DE purchased a new position in Vivid Seats in the first quarter worth $33,000. DekaBank Deutsche Girozentrale bought a new position in Vivid Seats in the third quarter valued at $37,000. Lazard Asset Management LLC purchased a new stake in Vivid Seats during the third quarter valued at about $37,000. Finally, Quarry LP raised its position in Vivid Seats by 291.2% during the first quarter. Quarry LP now owns 6,584 shares of the company's stock valued at $50,000 after purchasing an additional 4,901 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.