Vivid Seats (NASDAQ:SEAT) Given New $9.00 Price Target at Maxim Group

Vivid Seats (NASDAQ:SEAT) had its target price upped by Maxim Group from $7.00 to $9.00 in a research note issued to investors on Wednesday, Benzinga reports. Maxim Group currently has a buy rating on the stock.

Several other research analysts have also recently commented on SEAT. Benchmark reiterated a buy rating and issued a $15.00 target price on shares of Vivid Seats in a report on Wednesday, May 1st. Craig Hallum started coverage on shares of Vivid Seats in a report on Friday, February 9th. They issued a buy rating and a $10.00 target price for the company. Finally, Royal Bank of Canada decreased their target price on shares of Vivid Seats from $10.00 to $8.00 and set a sector perform rating for the company in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $10.15.

Vivid Seats Price Performance

Vivid Seats stock traded up $0.08 during trading hours on Wednesday, hitting $5.43. 122,952 shares of the company traded hands, compared to its average volume of 1,528,361. The firm has a market cap of $1.14 billion, a P/E ratio of 9.73, a P/E/G ratio of 2.63 and a beta of 1.23. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 2.52. The firm’s 50-day simple moving average is $5.69 and its two-hundred day simple moving average is $6.22. Vivid Seats has a 1-year low of $5.11 and a 1-year high of $9.89.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Vivid Seats by 3.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,240,177 shares of the company’s stock valued at $27,222,000 after buying an additional 160,851 shares in the last quarter. Boston Partners raised its stake in shares of Vivid Seats by 118.3% in the 4th quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after buying an additional 1,949,891 shares in the last quarter. FMR LLC raised its stake in shares of Vivid Seats by 6.8% in the 3rd quarter. FMR LLC now owns 3,520,887 shares of the company’s stock valued at $22,604,000 after buying an additional 223,676 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Vivid Seats in the 4th quarter worth about $10,815,000. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of Vivid Seats by 8.2% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 1,515,576 shares of the company’s stock worth $9,730,000 after purchasing an additional 114,815 shares during the last quarter. Institutional investors 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.