Vivid Seats (NASDAQ:SEAT) Price Target Cut to $9.00 by Analysts at Royal Bank of Canada

Vivid Seats (NASDAQ:SEAT – Get Rating) had its target price trimmed by Royal Bank of Canada from $10.00 to $9.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other analysts also recently issued reports on SEAT. Evercore ISI lowered their price target on Vivid Seats to $8.00 in a research report on Tuesday, November 15th. William Blair reiterated an outperform rating on shares of Vivid Seats in a report on Wednesday, November 30th. Credit Suisse Group reduced their price objective on shares of Vivid Seats from $13.00 to $11.00 and set an outperform rating on the stock in a research report on Wednesday, November 9th. DA Davidson dropped their target price on Vivid Seats to $20.00 in a research report on Tuesday, November 15th. Finally, Piper Sandler decreased their price target on 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $11.78.

Vivid Seats Trading Down 6.5 %

SEAT opened at $7.37 on Wednesday. The stock has a 50-day moving average of $8.05 and a 200 day moving average of $7.97. Vivid Seats has a 12 month low of $6.29 and a 12 month high of $12.31.

Insider Buying and Selling

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 stock was sold at an average price of $7.50, for a total transaction of $36,667.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,987 shares of company stock valued at $68,960 over the last quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. increased its holdings in Vivid Seats by 35.0% during the third quarter. D.A. Davidson & CO. now owns 69,709 shares of the company’s stock valued at $534,000 after buying an additional 18,079 shares during the period. B. Riley Asset Management LLC raised its position in shares of Vivid Seats by 38.1% in the 3rd quarter. B. Riley Asset Management LLC now owns 103,445 shares of the company’s stock worth $792,000 after acquiring an additional 28,554 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Vivid Seats by 123.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 159,506 shares of the company’s stock worth $1,222,000 after purchasing an additional 88,195 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Vivid Seats during the third quarter valued at about $48,000. Finally, Russell Investments Group Ltd. grew its stake in Vivid Seats by 45.0% in the third quarter. Russell Investments Group Ltd. now owns 41,042 shares of the company’s stock valued at $313,000 after purchasing an additional 12,746 shares during the last quarter. Hedge funds and other institutional investors own 31.35% of the company’s stock.

Vivid Seats Company Profile

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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.