Vivid Seats Inc. (NASDAQ:SEAT) Given Average Rating of "Hold" by Brokerages

Key Points

• Vivid Seats Inc. has received an average rating of "Hold" from thirteen analysts, with two sell, nine hold, and two buy recommendations.
• Recent reports show substantial revisions in price targets, with Canaccord Genuity slashing theirs from $80 to $23, while Citigroup lowered it from $32 to $13.
• Vivid Seats stock is currently priced at $13.33, reflecting a 4.5% increase in share value.

Shares of Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) have been given an average rating of "Hold" by the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $45.10.

A number of brokerages have recently issued reports on SEAT. Canaccord Genuity Group reissued a "hold" rating and set a $23.00 price objective (down previously from $80.00) on shares of Vivid Seats in a research report on Wednesday, August 6th. Citigroup downgraded shares of Vivid Seats from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $32.00 to $13.00 in a report on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of Vivid Seats in a research report on Friday. Benchmark upped their target price on shares of Vivid Seats to $26.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Craig Hallum set a $2.00 price objective on shares of Vivid Seats in a research report on Tuesday, August 5th.

Vivid Seats Stock Up 4.5%

Shares of SEAT opened at $13.33 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 1.77. The firm has a fifty day simple moving average of $15.25 and a two-hundred day simple moving average of $29.90. Vivid Seats has a 1-year low of $10.55 and a 1-year high of $100.00.

Hedge Funds Weigh In On Vivid Seats

Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its stake in Vivid Seats by 39.2% in the 1st quarter. Teacher Retirement System of Texas now owns 93,930 shares of the company's stock worth $278,000 after acquiring an additional 26,441 shares in the last quarter. Equitable Trust Co. boosted its stake in Vivid Seats by 17.1% in the first quarter. Equitable Trust Co. now owns 156,260 shares of the company's stock valued at $463,000 after acquiring an additional 22,775 shares in the last quarter. Emeth Value Capital LLC boosted its stake in Vivid Seats by 27.4% in the second quarter. Emeth Value Capital LLC now owns 7,642,042 shares of the company's stock valued at $12,915,000 after acquiring an additional 1,644,188 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Vivid Seats by 21.0% in the first quarter. MetLife Investment Management LLC now owns 45,279 shares of the company's stock worth $134,000 after buying an additional 7,866 shares during the last quarter. Finally, Clearline Capital LP raised its holdings in shares of Vivid Seats by 34.9% in the first quarter. Clearline Capital LP now owns 986,937 shares of the company's stock worth $2,921,000 after buying an additional 255,337 shares during the last quarter. 39.92% of the stock is currently 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.

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