Investors Purchase High Volume of Call Options on Vivid Seats (NASDAQ:SEAT)

Vivid Seats Inc. (NASDAQ:SEAT) was the recipient of some unusual options trading activity on Wednesday. Investors bought 38,759 call options on the company. This represents an increase of approximately 3,795% compared to the average volume of 995 call options.

Vivid Seats Stock Up 6.4 %

NASDAQ SEAT traded up $0.18 on Wednesday, reaching $2.90. 1,251,434 shares of the company were exchanged, compared to its average volume of 1,286,439. Vivid Seats has a fifty-two week low of $2.51 and a fifty-two week high of $6.09. The business’s fifty day moving average price is $4.21 and its 200 day moving average price is $3.98. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Institutional Investors Weigh In On Vivid Seats

Institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Vivid Seats in the 3rd quarter valued at $37,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Vivid Seats in the 4th quarter valued at about $46,000. Quinn Opportunity Partners LLC acquired a new stake in Vivid Seats during the 4th quarter worth approximately $46,000. BNP Paribas Financial Markets acquired a new stake in Vivid Seats during the 4th quarter worth approximately $53,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Vivid Seats in the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SEAT. Bank of America reiterated an “underperform” rating and issued a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Benchmark dropped their price target on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Canaccord Genuity Group lowered their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Morgan Stanley reduced their target price on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Raymond James lowered Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Vivid Seats currently has a consensus rating of “Hold” and a consensus price target of $5.49.

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.