Equities researchers at Maxim Group initiated coverage on shares of Vivid Seats (NASDAQ:SEAT – Get Free Report) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $7.00 price target on the stock. Maxim Group’s price objective would suggest a potential upside of 25.00% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $15.00 price target on shares of Vivid Seats in a report on Wednesday, March 6th. Royal Bank of Canada dropped their price objective on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, March 6th. Finally, Craig Hallum started coverage on Vivid Seats in a report on Friday, February 9th. They set a “buy” rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Vivid Seats presently has an average rating of “Moderate Buy” and a consensus price target of $9.94.
Read Our Latest Report on SEAT
Vivid Seats Price Performance
Institutional Trading of Vivid Seats
A number of institutional investors and hedge funds have recently modified their holdings of the stock. HBK Investments L P bought a new stake in shares of Vivid Seats in the 4th quarter valued at about $4,424,000. Vanguard Group Inc. increased its stake in shares of Vivid Seats by 372.8% in the 4th quarter. Vanguard Group Inc. now owns 3,926,335 shares of the company’s stock valued at $24,814,000 after acquiring an additional 3,095,941 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Vivid Seats by 417.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 257,527 shares of the company’s stock valued at $1,628,000 after acquiring an additional 207,715 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Vivid Seats in the 4th quarter valued at about $83,000. Finally, Legal & General Group Plc increased its stake in shares of Vivid Seats by 62.2% in the 4th quarter. Legal & General Group Plc now owns 50,695 shares of the company’s stock valued at $320,000 after acquiring an additional 19,444 shares during the last quarter. 39.92% of the stock is 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.
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