Vivid Seats Inc. (NASDAQ:SEAT) Short Interest Up 38.1% in August

Vivid Seats Inc. (NASDAQ:SEAT) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 578,600 shares, anincreaseof38.1% from the July 31st total of 418,900 shares. Currently,17.2% of the shares of the company are short sold. Based on an average daily volume of 133,400 shares, the short-interest ratio is presently 4.3 days. Based on an average daily volume of 133,400 shares, the short-interest ratio is presently 4.3 days. Currently,17.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SEAT. Citigroup restated a “buy” rating and set a $32.00 price objective (down previously from $70.00) on shares of Vivid Seats in a research report on Friday, August 8th. Benchmark upped their price target on shares of Vivid Seats to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Canaccord Genuity Group reissued a “hold” rating and issued a $23.00 price objective (down from $80.00) on shares of Vivid Seats in a research note on Wednesday, August 6th. Finally, Craig Hallum set a $2.00 price objective on Vivid Seats in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.64.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Boston Partners raised its position in shares of Vivid Seats by 152.9% in the first quarter. Boston Partners now owns 4,461,831 shares of the company’s stock worth $13,202,000 after buying an additional 2,697,796 shares in the last quarter. Emeth Value Capital LLC raised its position in shares of Vivid Seats by 27.4% in the second quarter. Emeth Value Capital LLC now owns 7,642,042 shares of the company’s stock worth $12,915,000 after buying an additional 1,644,188 shares in the last quarter. Anson Funds Management LP raised its position in shares of Vivid Seats by 88.2% in the first quarter. Anson Funds Management LP now owns 1,173,828 shares of the company’s stock worth $3,475,000 after buying an additional 550,000 shares in the last quarter. Ameriprise Financial Inc. grew its position in Vivid Seats by 18.4% in the fourth quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock worth $9,051,000 after acquiring an additional 303,878 shares in the last quarter. Finally, Clearline Capital LP grew its position in Vivid Seats by 34.9% in the first quarter. Clearline Capital LP now owns 986,937 shares of the company’s stock worth $2,921,000 after acquiring an additional 255,337 shares in the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Vivid Seats Stock Down 3.3%

Shares of Vivid Seats stock opened at $15.41 on Monday. Vivid Seats has a 52 week low of $14.54 and a 52 week high of $100.00. The business has a 50 day moving average price of $26.38 and a 200-day moving average price of $42.20. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.72 and a quick ratio of 0.63.

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.