Maxim Group Increases Vivid Seats (NASDAQ:SEAT) Price Target to $9.00

Vivid Seats (NASDAQ:SEAT) had its price objective hoisted by investment analysts at Maxim Group from $7.00 to $9.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s target price suggests a potential upside of 69.17% from the company’s previous close.

SEAT has been the subject of a number of other reports. Craig Hallum initiated coverage on Vivid Seats in a research report on Friday, February 9th. They issued a “buy” rating and a $10.00 target price for the company. Royal Bank of Canada reduced their price objective on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.17.

Vivid Seats Stock Down 1.7 %

Shares of Vivid Seats stock traded down $0.09 during trading hours on Wednesday, hitting $5.32. The company had a trading volume of 437,962 shares, compared to its average volume of 1,528,625. Vivid Seats has a twelve month low of $5.11 and a twelve month high of $9.89. The company has a market cap of $1.12 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46. The company’s 50-day moving average is $5.70 and its two-hundred day moving average is $6.23.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its holdings in Vivid Seats by 4.3% in the third quarter. D.A. Davidson & CO. now owns 35,975 shares of the company’s stock valued at $231,000 after purchasing an additional 1,475 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Vivid Seats by 84.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock worth $29,000 after acquiring an additional 2,090 shares in the last quarter. Swiss National Bank grew its position in shares of Vivid Seats by 5.1% in the 3rd quarter. Swiss National Bank now owns 84,500 shares of the company’s stock worth $542,000 after acquiring an additional 4,100 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Vivid Seats during the third quarter valued at approximately $37,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Vivid Seats by 417.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock worth $71,000 after purchasing an additional 9,121 shares during the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.