Vivid Seats' (SEAT) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Vivid Seats' stock received a "sell (D-)" rating reaffirmed by Weiss Ratings, reflecting investor concerns about its performance.
• Despite a consensus "Hold" rating among analysts, target prices have seen significant reductions, with Citigroup lowering its estimate from $32.00 to $13.00.
• The stock price recently increased by 4.5%, reaching $13.33, although it remains well below its 52-week high of $100.00.

Vivid Seats (NASDAQ:SEAT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group reaffirmed a "hold" rating and set a $23.00 price objective (down from $80.00) on shares of Vivid Seats in a report on Wednesday, August 6th. Citigroup downgraded Vivid Seats from a "buy" rating to a "neutral" rating and cut their target price for the stock from $32.00 to $13.00 in a research report on Thursday. Benchmark upped their price target on 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 Vivid Seats in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Vivid Seats has a consensus rating of "Hold" and an average target price of $45.10.

Vivid Seats Stock Up 4.5%

NASDAQ SEAT traded up $0.58 on Friday, reaching $13.33. The company's stock had a trading volume of 79,268 shares, compared to its average volume of 152,388. The business has a 50-day moving average price of $15.25 and a 200 day moving average price of $30.03. Vivid Seats has a 52 week low of $10.55 and a 52 week high of $100.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.63 and a current ratio of 0.72.

Institutional Investors Weigh In On Vivid Seats

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rangeley Capital LLC acquired a new position in Vivid Seats in the second quarter worth $42,000. Ameriprise Financial Inc. grew its holdings in shares of Vivid Seats by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company's stock worth $3,756,000 after purchasing an additional 215,057 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Vivid Seats in the second quarter valued at $35,000. Caption Management LLC raised its holdings in shares of Vivid Seats by 1,470.9% in the second quarter. Caption Management LLC now owns 250,472 shares of the company's stock valued at $423,000 after buying an additional 234,528 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Vivid Seats during the 2nd quarter worth about $32,000. 39.92% of the stock is 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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