Royal Bank of Canada Has Lowered Expectations for Vivid Seats (NASDAQ:SEAT) Stock Price

Vivid Seats (NASDAQ:SEAT) had its target price lowered by Royal Bank of Canada from $7.00 to $6.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other research firms have also recently issued reports on SEAT. DA Davidson cut their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft cut their price target on Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Benchmark decreased their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 8th. Craig Hallum lowered their target price on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, Maxim Group reduced their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.67.

Vivid Seats Stock Down 5.3 %

Vivid Seats stock opened at $3.56 on Monday. The company has a market capitalization of $740.76 million, a PE ratio of 6.84, a PEG ratio of 17.12 and a beta of 1.18. Vivid Seats has a 12-month low of $3.36 and a 12-month high of $8.80. The firm’s fifty day moving average is $3.92 and its 200 day moving average is $4.64. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in Vivid Seats by 3.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 99,568 shares of the company’s stock valued at $368,000 after buying an additional 3,676 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Vivid Seats by 301.6% during the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after acquiring an additional 5,594 shares during the last quarter. Rhumbline Advisers lifted its holdings in Vivid Seats by 9.3% during the second quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after acquiring an additional 7,961 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Vivid Seats in the third quarter worth $37,000. Finally, American Century Companies Inc. boosted its position in Vivid Seats by 23.1% in the second quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock worth $318,000 after purchasing an additional 10,372 shares during the last quarter. 39.92% of the stock is owned by institutional investors.

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.