Vivid Seats (NASDAQ:SEAT) Coverage Initiated at Maxim Group

Equities research analysts at Maxim Group started coverage on shares of Vivid Seats (NASDAQ:SEAT) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. Maxim Group’s price target would indicate a potential upside of 25.00% from the company’s current price.

A number of other research firms have also weighed in on SEAT. Craig Hallum assumed coverage on shares of Vivid Seats in a research report on Friday, February 9th. They issued a “buy” rating and a $10.00 price objective for the company. Benchmark restated a “buy” rating and issued a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reduced their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.94.

Vivid Seats Price Performance

SEAT stock traded up $0.11 during mid-day trading on Wednesday, reaching $5.60. The company’s stock had a trading volume of 596,853 shares, compared to its average volume of 1,581,100. The company’s 50 day moving average is $5.80 and its two-hundred day moving average is $6.32. 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 stock has a market cap of $1.18 billion, a PE ratio of 10.25, a P/E/G ratio of 2.48 and a beta of 1.20. Vivid Seats has a fifty-two week low of $5.11 and a fifty-two week high of $9.89.

Hedge Funds Weigh In On Vivid Seats

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in Vivid Seats during the 1st quarter valued at about $33,000. Parkside Financial Bank & Trust boosted its position in shares of Vivid Seats by 84.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after purchasing an additional 2,090 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Vivid Seats during the 3rd quarter valued at about $37,000. Lazard Asset Management LLC bought a new position in shares of Vivid Seats during the 3rd quarter valued at about $37,000. Finally, Quarry LP boosted its position in shares of Vivid Seats by 291.2% during the 1st quarter. Quarry LP now owns 6,584 shares of the company’s stock valued at $50,000 after purchasing an additional 4,901 shares in the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.