Vivid Seats (NASDAQ:SEAT) Cut to “Hold” at Zacks Investment Research

Vivid Seats (NASDAQ:SEATGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Vivid Seats Inc. provides marketplace which utilizes its technology platform to connect buyers with ticket sellers. Vivid Seats Inc., formerly known as Horizon Acquisition Corporation, is based in CHICAGO. “

A number of other equities research analysts also recently commented on SEAT. Raymond James decreased their target price on Vivid Seats from $17.00 to $11.00 in a report on Tuesday, May 10th. Benchmark cut their price objective on shares of Vivid Seats from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Finally, Credit Suisse Group restated a “buy” rating and set a $16.00 target price on shares of Vivid Seats in a research report on Friday, March 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.03.

Shares of SEAT opened at $9.13 on Wednesday. The company’s fifty day moving average price is $9.71 and its 200-day moving average price is $10.40. Vivid Seats has a 1-year low of $7.02 and a 1-year high of $14.35.

Hedge funds have recently modified their holdings of the business. Security Benefit Life Insurance Co. KS purchased a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $566,382,000. Vista Equity Partners Management LLC purchased a new stake in Vivid Seats in the 4th quarter worth $367,023,000. Massachusetts Financial Services Co. MA raised its position in Vivid Seats by 15.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,771,804 shares of the company’s stock worth $41,716,000 after acquiring an additional 498,153 shares during the period. Clearline Capital LP purchased a new position in Vivid Seats during the fourth quarter valued at $16,169,000. Finally, Emerald Advisers LLC acquired a new stake in shares of Vivid Seats in the first quarter valued at about $11,871,000. Institutional investors own 56.43% of the company’s stock.

About Vivid Seats (Get Rating)

Vivid Seats Inc operates as an online secondary marketplace for tickets in the United States and Canada. 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 live sports, concerts, and theater shows, and other live events.

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