Vivid Seats (NASDAQ:SEAT) Shares Gap Up to $5.49

Vivid Seats Inc. (NASDAQ:SEAT) gapped up prior to trading on Wednesday . The stock had previously closed at $5.49, but opened at $5.64. Vivid Seats shares last traded at $5.65, with a volume of 100,247 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SEAT shares. Royal Bank of Canada decreased their price target on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, March 6th. Benchmark reiterated a “buy” rating and set a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, March 6th. Craig Hallum initiated coverage on Vivid Seats in a research note on Friday, February 9th. They set a “buy” rating and a $10.00 target price for the company. Finally, Maxim Group initiated coverage on Vivid Seats in a research note on Wednesday. They set a “buy” rating and a $7.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Vivid Seats presently has an average rating of “Moderate Buy” and an average target price of $9.94.

Vivid Seats Price Performance

The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 2.45 and a beta of 1.20. The stock has a 50-day moving average of $5.80 and a two-hundred day moving average of $6.31.

Institutional Investors Weigh In On Vivid Seats

Institutional investors have recently bought and sold shares of the business. Raymond James & Associates purchased a new stake in shares of Vivid Seats during the 1st quarter worth about $1,633,000. BlackRock Inc. raised its stake in shares of Vivid Seats by 11.5% during the 1st quarter. BlackRock Inc. now owns 53,134 shares of the company’s stock worth $588,000 after purchasing an additional 5,464 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Vivid Seats by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 110,924 shares of the company’s stock worth $1,227,000 after purchasing an additional 2,708 shares in the last quarter. Northern Trust Corp purchased a new stake in shares of Vivid Seats during the 1st quarter worth about $431,000. Finally, State Street Corp raised its stake in shares of Vivid Seats by 736.8% during the 1st quarter. State Street Corp now owns 91,210 shares of the company’s stock worth $1,009,000 after purchasing an additional 80,310 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.