Weiss Ratings Reiterates "Sell (D-)" Rating for Vivid Seats (NASDAQ:SEAT)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Vivid Seats (NASDAQ: SEAT), reflecting a negative outlook on the company's stock performance.
• The stock recently traded down 9.7%, reaching $13.48, with a fifty-two week high of $100.00 and a current average target price of $47.00 from analysts.
• Institutional investors now own approximately 39.92% of Vivid Seats, with several hedge funds recently acquiring new positions in the company.

Vivid Seats (NASDAQ:SEAT - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

SEAT has been the subject of several other reports. Benchmark upped their price objective on Vivid Seats to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $23.00 price target (down previously from $80.00) on shares of Vivid Seats in a research report on Wednesday, August 6th. Citigroup reaffirmed a "buy" rating and set a $32.00 price target (down previously from $70.00) on shares of Vivid Seats in a research report on Friday, August 8th. Finally, Craig Hallum set a $2.00 price target on Vivid Seats in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $47.00.

Vivid Seats Stock Down 9.7%

Shares of NASDAQ:SEAT traded down $1.44 during midday trading on Wednesday, reaching $13.48. 170,506 shares of the company were exchanged, compared to its average volume of 115,836. Vivid Seats has a fifty-two week low of $13.48 and a fifty-two week high of $100.00. The stock has a fifty day simple moving average of $17.44 and a two-hundred day simple moving average of $33.65. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 1.77.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds have recently added to or reduced their stakes in SEAT. Capstone Financial Advisors Inc. acquired a new position in shares of Vivid Seats in the second quarter valued at $25,000. Jump Financial LLC acquired a new position in Vivid Seats in the 2nd quarter valued at about $32,000. Raymond James Financial Inc. bought a new position in Vivid Seats in the 2nd quarter valued at about $35,000. Rangeley Capital LLC bought a new position in Vivid Seats in the 2nd quarter valued at about $42,000. Finally, Quantbot Technologies LP bought a new position in Vivid Seats in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds 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.

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