Maxim Group Begins Coverage on Vivid Seats (NASDAQ:SEAT)

Maxim Group assumed coverage on shares of Vivid Seats (NASDAQ:SEAT) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $7.00 price target on the stock.

A number of other research firms have also commented on SEAT. Benchmark reiterated a buy rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Wednesday, March 6th. Craig Hallum initiated coverage on Vivid Seats in a research note on Friday, February 9th. They issued a buy rating and a $10.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price objective on 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $9.94.

Vivid Seats Trading Up 0.5 %

Vivid Seats stock opened at $5.89 on Wednesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.46 and a current ratio of 0.50. The business’s 50-day simple moving average is $5.81 and its 200-day simple moving average is $6.31. The firm has a market capitalization of $1.24 billion, a PE ratio of 10.71, a PEG ratio of 2.50 and a beta of 1.20. Vivid Seats has a 52 week low of $5.11 and a 52 week high of $9.89.

Hedge Funds Weigh In On Vivid Seats

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEAT. Parkside Financial Bank & Trust increased its stake in Vivid Seats by 84.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after acquiring an additional 2,090 shares during the period. Bank of America Corp DE acquired a new stake in Vivid Seats during the first quarter valued at approximately $33,000. DekaBank Deutsche Girozentrale acquired a new stake in Vivid Seats during the third quarter valued at approximately $37,000. Lazard Asset Management LLC acquired a new stake in Vivid Seats during the third quarter valued at approximately $37,000. Finally, Quarry LP boosted its holdings in Vivid Seats by 291.2% during the first 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. 39.92% of the stock is currently 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.