Short Interest in Vivid Seats Inc. (NASDAQ:SEAT) Decreases By 95.1%

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 large drop in short interest in the month of July. As of July 31st, there was short interest totaling 418,900 shares, adropof95.1% 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. Approximately6.7% of the shares of the company are sold short. Approximately6.7% of the shares of the company are sold short. Based on an average trading volume of 132,500 shares, the short-interest ratio is currently 3.2 days.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEAT. Capstone Financial Advisors Inc. purchased a new stake in shares of Vivid Seats during the second quarter worth about $25,000. Jump Financial LLC purchased a new stake in shares of Vivid Seats during the second quarter worth about $32,000. Raymond James Financial Inc. purchased a new stake in shares of Vivid Seats during the second quarter worth about $35,000. Rangeley Capital LLC purchased a new stake in shares of Vivid Seats during the second quarter worth about $42,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Vivid Seats during the second quarter worth about $43,000. Institutional investors and hedge funds own 39.92% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Benchmark raised their target price on shares of Vivid Seats to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Maxim Group reduced their price objective on shares of Vivid Seats from $100.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Craig Hallum set a $2.00 price objective on shares of Vivid Seats in a research note on Tuesday, August 5th. William Blair cut shares of Vivid Seats from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 6th. Finally, Citigroup reiterated a "buy" rating and issued a $32.00 price objective (down previously from $70.00) on shares of Vivid Seats in a research note on Friday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $53.64.

Vivid Seats Stock Down 3.5%

SEAT traded down $0.60 during midday trading on Monday, reaching $16.73. 95,907 shares of the company's stock were exchanged, compared to its average volume of 103,881. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.63 and a current ratio of 0.72. The business's 50-day moving average price is $32.17 and its 200 day moving average price is $49.60. Vivid Seats has a 1-year low of $15.25 and a 1-year high of $100.00.

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.