Oppenheimer & Co. Inc. Invests $37,000 in Vivid Seats Inc. (NASDAQ:SEAT)

Oppenheimer & Co. Inc. acquired a new position in Vivid Seats Inc. (NASDAQ:SEAT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its stake in Vivid Seats by 3.8% in the third quarter. Exchange Traded Concepts LLC now owns 99,568 shares of the company’s stock worth $368,000 after acquiring an additional 3,676 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Vivid Seats by 301.6% in the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after acquiring an additional 5,594 shares during the period. Rhumbline Advisers lifted its stake in Vivid Seats by 9.3% in the second quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after acquiring an additional 7,961 shares during the period. American Century Companies Inc. lifted its stake in Vivid Seats by 23.1% in the second quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock worth $318,000 after acquiring an additional 10,372 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Vivid Seats in the second quarter worth about $61,000. 39.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SEAT. Maxim Group lowered their price objective on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Canaccord Genuity Group decreased their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Benchmark decreased their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Citigroup decreased their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, DA Davidson decreased their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Vivid Seats Stock Performance

Shares of Vivid Seats stock opened at $3.52 on Friday. The firm has a market capitalization of $731.24 million, a P/E ratio of 6.56, a PEG ratio of 16.44 and a beta of 1.18. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average price of $3.81 and a 200 day moving average price of $4.55. Vivid Seats Inc. has a 52 week low of $3.33 and a 52 week high of $8.80.

Vivid Seats 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.