Vivid Seats (NASDAQ:SEAT) Earns “Buy” Rating from Benchmark

Vivid Seats (NASDAQ:SEAT)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $15.00 price target on the stock. Benchmark’s price target suggests a potential upside of 186.26% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada cut their price objective on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 6th. Maxim Group started coverage on shares of Vivid Seats in a research note on Wednesday, April 17th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Craig Hallum began coverage on shares of Vivid Seats in a report on Friday, February 9th. They issued a “buy” rating and a $10.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.94.

Vivid Seats Stock Down 0.4 %

SEAT stock traded down $0.02 during midday trading on Wednesday, reaching $5.24. The company had a trading volume of 224,369 shares, compared to its average volume of 1,536,461. The company has a 50 day moving average of $5.76 and a two-hundred day moving average of $6.26. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52. Vivid Seats has a 1 year low of $5.11 and a 1 year high of $9.89. The company has a market capitalization of $1.10 billion, a P/E ratio of 9.53, a PEG ratio of 2.68 and a beta of 1.20.

Institutional Investors Weigh In On Vivid Seats

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its position in shares of Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after acquiring an additional 2,090 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Vivid Seats during the third quarter worth $37,000. SG Americas Securities LLC bought a new stake in shares of Vivid Seats in the 4th quarter valued at $65,000. Tower Research Capital LLC TRC lifted its holdings in Vivid Seats by 417.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock worth $71,000 after acquiring an additional 9,121 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in Vivid Seats in the third quarter valued at about $84,000. Institutional investors own 39.92% of the company’s stock.

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.