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

Vivid Seats Inc. (NASDAQ:SEAT) gapped up before the market opened on Tuesday . The stock had previously closed at $5.49, but opened at $5.81. Vivid Seats shares last traded at $5.75, with a volume of 498,009 shares traded.

Analyst Ratings Changes

SEAT has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $15.00 price target on shares of Vivid Seats in a report on Wednesday, May 1st. Craig Hallum initiated coverage on Vivid Seats in a research note on Friday, February 9th. They set a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group lowered their target price on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. Maxim Group upped their price target on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada cut their target price on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vivid Seats currently has an average rating of “Moderate Buy” and a consensus target price of $10.15.

Vivid Seats Trading Up 1.9 %

The company has a fifty day moving average price of $5.68 and a 200-day moving average price of $6.22. 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 $1.15 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 2.63 and a beta of 1.23.

Institutional Investors Weigh In On Vivid Seats

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp acquired a new stake in Vivid Seats during the third quarter valued at $460,000. Capula Management Ltd acquired a new stake in shares of Vivid Seats during the 3rd quarter valued at about $907,000. Victory Capital Management Inc. acquired a new stake in shares of Vivid Seats during the 3rd quarter valued at about $136,000. Boston Partners purchased a new position in shares of Vivid Seats in the 3rd quarter valued at about $10,436,000. Finally, Swiss National Bank raised its holdings in 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 purchasing an additional 4,100 shares during the period. Institutional investors and hedge funds 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.