Vivid Seats (NASDAQ:SEAT) Rating Increased to Buy at Craig Hallum

Vivid Seats (NASDAQ:SEAT) was upgraded by Craig Hallum from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Finviz reports. The brokerage presently has a $15.00 price target on the stock. Craig Hallum’s price objective suggests a potential upside of 153.59% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $7.00 price objective on shares of Vivid Seats in a report on Tuesday, January 20th. Morgan Stanley set a $9.00 price objective on shares of Vivid Seats in a report on Thursday, December 18th. Bank of America reissued an “underperform” rating and issued a $5.65 price objective on shares of Vivid Seats in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vivid Seats in a report on Wednesday, January 21st. Finally, Citigroup cut their price objective on shares of Vivid Seats from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.87.

Vivid Seats Price Performance

Shares of SEAT opened at $5.92 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.67 and a quick ratio of 0.60. The stock has a fifty day moving average price of $6.72 and a 200 day moving average price of $9.94. The company has a market cap of $63.47 million, a P/E ratio of 2.20 and a beta of 0.95. Vivid Seats has a 12 month low of $5.06 and a 12 month high of $62.40.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SEAT. Deutsche Bank AG grew its holdings in Vivid Seats by 270.0% in the fourth quarter. Deutsche Bank AG now owns 10,774 shares of the company’s stock worth $78,000 after purchasing an additional 7,862 shares during the last quarter. First Trust Advisors LP increased its holdings in Vivid Seats by 2.7% during the second quarter. First Trust Advisors LP now owns 297,688 shares of the company’s stock worth $503,000 after buying an additional 7,940 shares during the last quarter. Jain Global LLC purchased a new position in shares of Vivid Seats during the 4th quarter valued at $97,000. Capstone Financial Advisors Inc. bought a new position in shares of Vivid Seats in the second quarter worth about $25,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Vivid Seats by 44.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 51,842 shares of the company’s stock valued at $374,000 after purchasing an additional 15,848 shares during the period. Hedge funds and other institutional investors own 39.92% of the company’s stock.

About Vivid Seats

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America’s leading ticket marketplaces.