Vivid Seats (NASDAQ:SEAT) Stock Price Up 3% - Still a Buy?

Key Points

• Vivid Seats' stock price increased by 3%, closing at $12.99, after trading as high as $13.23.
• Investment firms have mixed recommendations for Vivid Seats, with price targets ranging from $2.00 to $32.00, and a consensus rating of "Hold".
• Approximately 39.92% of Vivid Seats' stock is owned by hedge funds and other institutional investors, indicating significant market interest.

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) traded up 3% on Wednesday . The stock traded as high as $13.23 and last traded at $12.99. 107,847 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 149,263 shares. The stock had previously closed at $12.61.

Wall Street Analysts Forecast Growth

Several research firms have commented on SEAT. Benchmark upped their price target on shares of Vivid Seats to $26.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Vivid Seats in a research report on Wednesday, October 8th. Citigroup restated a "buy" rating and issued a $32.00 price target (down previously from $70.00) on shares of Vivid Seats in a research note on Friday, August 8th. Craig Hallum set a $2.00 price objective on Vivid Seats in a report on Tuesday, August 5th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $23.00 target price (down from $80.00) on shares of Vivid Seats in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $47.00.

Vivid Seats Price Performance

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 stock's 50-day moving average is $15.42 and its two-hundred day moving average is $30.53.

Hedge Funds Weigh In On Vivid Seats

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

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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