Canaccord Genuity Group Lowers Vivid Seats (NASDAQ:SEAT) Price Target to $5.00

Vivid Seats (NASDAQ:SEAT) had its target price lowered by equities research analysts at Canaccord Genuity Group from $6.00 to $5.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 74.83% from the stock’s previous close.

SEAT has been the topic of several other reports. Benchmark reduced their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America reissued an “underperform” rating and issued a $2.60 target price (down from $6.25) on shares of Vivid Seats in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.49.

Vivid Seats Stock Up 1.8 %

NASDAQ SEAT opened at $2.86 on Thursday. 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 stock’s 50 day moving average is $4.29 and its two-hundred day moving average is $4.02. Vivid Seats has a 1-year low of $2.51 and a 1-year high of $6.09.

Hedge Funds Weigh In On Vivid Seats

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Vivid Seats by 8.5% during the 4th quarter. SG Americas Securities LLC now owns 37,065 shares of the company’s stock worth $172,000 after purchasing an additional 2,909 shares in the last quarter. Plan Group Financial LLC increased its holdings in Vivid Seats by 9.4% during the 4th quarter. Plan Group Financial LLC now owns 35,330 shares of the company’s stock worth $164,000 after purchasing an additional 3,048 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Vivid Seats by 17.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company’s stock valued at $136,000 after acquiring an additional 4,288 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Vivid Seats by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company’s stock valued at $3,434,000 after acquiring an additional 5,828 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Vivid Seats by 9.6% in the 4th quarter. American Century Companies Inc. now owns 96,396 shares of the company’s stock valued at $446,000 after acquiring an additional 8,450 shares in the last quarter. 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.