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

Key Points

• Vivid Seats Inc. experienced a 95.1% decrease in short interest during July, bringing the total short interest to 418,900 shares, which represents approximately 6.7% of its shares sold short.
• Analysts have provided mixed ratings on Vivid Seats, with one sell rating, eight hold ratings, and four buy ratings, resulting in an average price target of $53.64.
• The company's stock is currently down 3.5%, trading at $17.55, significantly off its twelve-month high of $100.00.

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) saw a significant decrease in short interest in July. As of July 31st, there was short interest totaling 418,900 shares, adecreaseof95.1% from the July 15th total of 8,470,000 shares. Based on an average trading volume of 132,500 shares, the short-interest ratio is currently 3.2 days. Currently,6.7% of the shares of the company are short sold. Currently,6.7% of the shares of the company are short sold. Based on an average trading volume of 132,500 shares, the short-interest ratio is currently 3.2 days.

Wall Street Analyst Weigh In

SEAT has been the topic of a number of recent analyst reports. Royal Bank Of Canada reduced their price target on Vivid Seats from $80.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 7th. Canaccord Genuity Group reiterated a "hold" rating and issued a $23.00 price objective (down from $80.00) on shares of Vivid Seats in a report on Wednesday, August 6th. Citigroup reissued a "buy" rating and set a $32.00 target price (down from $70.00) on shares of Vivid Seats in a research note on Friday, August 8th. Maxim Group dropped their target price on Vivid Seats from $100.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, William Blair cut Vivid Seats from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $53.64.

Vivid Seats Trading Up 0.7%

NASDAQ:SEAT traded up $0.1110 during mid-day trading on Tuesday, hitting $16.8410. The company had a trading volume of 55,815 shares, compared to its average volume of 103,551. The business's fifty day moving average is $31.78 and its two-hundred day moving average is $49.11. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 1.77. Vivid Seats has a fifty-two week low of $15.25 and a fifty-two week high of $100.00.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds have recently modified their holdings of the stock. Capstone Financial Advisors Inc. bought a new stake in Vivid Seats in the 2nd quarter valued at about $25,000. Jump Financial LLC bought a new position in shares of Vivid Seats in the second quarter valued at approximately $32,000. Raymond James Financial Inc. purchased a new position in Vivid Seats in the second quarter valued at about $35,000. Rangeley Capital LLC purchased a new stake in shares of Vivid Seats during the 2nd quarter valued at approximately $42,000. Finally, Quantbot Technologies LP bought a new position in shares of Vivid Seats in the second quarter valued at approximately $43,000. 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.