Vivid Seats Sees Unusually Large Options Volume (NASDAQ:SEAT)

Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) saw some unusual options trading activity on Tuesday. Investors acquired 3,255 put options on the company. This represents an increase of approximately 1,688% compared to the average volume of 182 put options.

Insider Buying and Selling at Vivid Seats

In other Vivid Seats news, Director Craig A. Dixon sold 4,889 shares of Vivid Seats stock in a transaction on Thursday, December 29th. The shares were sold at an average price of $7.50, for a total value of $36,667.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 8,987 shares of company stock worth $68,960 in the last quarter.

Hedge Funds Weigh In On Vivid Seats

Hedge funds and other institutional investors have recently made changes to their positions in the business. Security Benefit Life Insurance Co. KS bought a new stake in Vivid Seats in the second quarter valued at approximately $388,867,000. FMR LLC lifted its stake in Vivid Seats by 160.9% in the second quarter. FMR LLC now owns 2,206,475 shares of the company’s stock valued at $16,482,000 after acquiring an additional 1,360,674 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Vivid Seats by 18.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,577,860 shares of the company’s stock valued at $35,066,000 after purchasing an additional 705,194 shares during the period. Prospect Capital Advisors LLC bought a new position in shares of Vivid Seats in the third quarter valued at about $2,754,000. Finally, Millennium Management LLC raised its position in shares of Vivid Seats by 64.6% in the fourth quarter. Millennium Management LLC now owns 896,479 shares of the company’s stock valued at $6,544,000 after purchasing an additional 351,833 shares during the period. 31.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SEAT has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Vivid Seats from $10.50 to $10.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 9th. Credit Suisse Group dropped their target price on shares of Vivid Seats from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Evercore ISI decreased their price target on shares of Vivid Seats to $8.00 in a report on Tuesday, November 15th. DA Davidson decreased their price target on shares of Vivid Seats to $20.00 in a report on Tuesday, November 15th. Finally, Piper Sandler reduced their target price on shares of Vivid Seats from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, January 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Vivid Seats presently has an average rating of “Moderate Buy” and an average target price of $11.78.

Vivid Seats Stock Performance

Shares of SEAT opened at $7.89 on Wednesday. Vivid Seats has a 12 month low of $6.29 and a 12 month high of $12.31. The company’s fifty day moving average is $8.04 and its 200-day moving average is $7.97.

About Vivid Seats

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Vivid Seats Inc operates as an online secondary marketplace for tickets in the United States and Canada. 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 live sports, concerts, and theater shows, and other live events.