Vivid Seats Inc. (NASDAQ:SEAT) Short Interest Up 35.4% in March

Vivid Seats Inc. (NASDAQ:SEAT) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 8,000,000 shares, an increase of 35.4% from the March 15th total of 5,910,000 shares. Currently, 10.9% of the shares of the stock are short sold. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is presently 5.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners acquired a new position in shares of Vivid Seats in the 3rd quarter worth approximately $10,436,000. Brandywine Global Investment Management LLC lifted its position 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 period. M&T Bank Corp acquired a new position in shares of Vivid Seats in the 3rd quarter worth approximately $460,000. Acadian Asset Management LLC lifted its position in shares of Vivid Seats by 235.3% in the 3rd quarter. Acadian Asset Management LLC now owns 90,840 shares of the company’s stock worth $581,000 after purchasing an additional 63,745 shares during the period. Finally, FMR LLC lifted its position 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 worth $22,604,000 after purchasing an additional 223,676 shares during the period. Institutional investors and hedge funds own 39.92% of the company’s stock.

Wall Street Analyst Weigh In

SEAT has been the topic of a number of research analyst reports. Craig Hallum initiated coverage on shares of Vivid Seats in a research note on Friday, February 9th. They issued a “buy” rating and a $10.00 price target on the stock. Royal Bank of Canada cut their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 6th. Finally, Benchmark reiterated a “buy” rating and set a $15.00 target price on shares of Vivid Seats in a research report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.31.

Vivid Seats Trading Down 1.7 %

NASDAQ:SEAT traded down $0.10 during mid-day trading on Friday, hitting $5.69. 1,593,988 shares of the company’s stock were exchanged, compared to its average volume of 1,667,922. The firm has a market capitalization of $1.20 billion, a P/E ratio of 10.35, a PEG ratio of 2.54 and a beta of 1.20. Vivid Seats has a fifty-two week low of $5.11 and a fifty-two week high of $9.89. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52. The company has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $6.33.

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.