Vivid Seats (NASDAQ:SEAT) Shares Down 6.8% - What's Next?

Key Points

• Vivid Seats' shares dropped by 6.8% to $16.55, with a trading volume significantly lower than average, indicating a decline in investor interest.
• Multiple brokerages have adjusted their target prices for Vivid Seats, with Maxim Group lowering theirs from $100 to $60, while Royal Bank Of Canada reduced theirs from $80 to $40.
• The stock currently holds a consensus rating of "Hold" from analysts, with a target price averaging $53.64, despite mixed ratings from various firms.

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report)'s share price traded down 6.8% during trading on Tuesday . The company traded as low as $16.16 and last traded at $16.55. 125,138 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 279,164 shares. The stock had previously closed at $17.75.

Analyst Ratings Changes

Several brokerages recently weighed in on SEAT. Maxim Group decreased their target price on Vivid Seats from $100.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Royal Bank Of Canada cut their price target on Vivid Seats from $80.00 to $40.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. William Blair downgraded shares of Vivid Seats from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $23.00 target price (down previously from $80.00) on shares of Vivid Seats in a research report on Wednesday, August 6th. Finally, Citigroup reissued a "buy" rating and issued a $32.00 price target (down from $70.00) on shares of Vivid Seats in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.64.

Vivid Seats Stock Performance

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 stock's 50 day simple moving average is $27.38 and its two-hundred day simple moving average is $43.98.

Institutional Trading of Vivid Seats

Several institutional investors have recently made changes to their positions in SEAT. Emeth Value Capital LLC raised its position 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 worth $12,915,000 after purchasing an additional 1,644,188 shares in the last quarter. Boston Partners grew its stake in shares of Vivid Seats by 7.2% in the 2nd quarter. Boston Partners now owns 4,784,292 shares of the company's stock valued at $8,084,000 after purchasing an additional 322,461 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Vivid Seats by 10.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company's stock worth $3,756,000 after buying an additional 215,057 shares in the last quarter. Anson Funds Management LP lifted its position in shares of Vivid Seats by 88.2% during the 1st quarter. Anson Funds Management LP now owns 1,173,828 shares of the company's stock worth $3,475,000 after buying an additional 550,000 shares during the period. Finally, Silver Rock Financial LP lifted its position in shares of Vivid Seats by 9.6% during the 4th quarter. Silver Rock Financial LP now owns 1,138,896 shares of the company's stock worth $5,273,000 after buying an additional 100,000 shares during the period. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.

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