Vivid Seats (NASDAQ:SEAT) Reaches New 1-Year Low Following Analyst Downgrade

Vivid Seats Inc. (NASDAQ:SEAT) reached a new 52-week low during trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $6.00 to $4.00. Royal Bank of Canada currently has a sector perform rating on the stock. Vivid Seats traded as low as $2.51 and last traded at $2.76, with a volume of 579844 shares changing hands. The stock had previously closed at $2.90.

SEAT has been the subject of several other reports. Canaccord Genuity Group decreased their price target on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley lowered their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research report on Thursday. Benchmark lowered their price target on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Bank of America restated an “underperform” rating and set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Vivid Seats by 3.4% during the third quarter. FMR LLC now owns 5,970,058 shares of the company’s stock valued at $22,089,000 after acquiring an additional 195,625 shares during the period. Emeth Value Capital LLC bought a new stake in shares of Vivid Seats in the 4th quarter worth approximately $23,250,000. Vanguard Group Inc. raised its holdings in shares of Vivid Seats by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock worth $22,676,000 after purchasing an additional 22,285 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Vivid Seats by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock worth $16,636,000 after purchasing an additional 125,035 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Vivid Seats by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock worth $9,301,000 after purchasing an additional 33,181 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors.

Vivid Seats Stock Performance

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 business’s fifty day moving average is $4.33 and its 200 day moving average is $4.03.

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.