The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Vivid Seats Inc shares valued at $168,947 were sold by Wagner Jonathan Miles on Mar 12 ’24. At $5.71 per share, Wagner Jonathan Miles sold 29,588 shares. The insider’s holdings dropped to 139,925 shares worth approximately $0.78 million following the completion of this transaction.
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Also, Bakal Riva sold 2,051 shares, netting a total of over 11,711 in proceeds. Following the sale of shares at $5.71 each, the insider now holds 94,955 shares.
Before that, Pickus Edward had sold 725 shares from its account. In a trade valued at $4,140, the Chief Accounting Officer traded Vivid Seats Inc shares for $5.71 each. Upon closing the transaction, the insider’s holdings decreased to 725 shares, worth approximately $0.19 million.
As published in their initiating research note from Craig Hallum on February 09, 2024, Vivid Seats Inc [SEAT] has been a Buy and the price target has been revised to $10. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early August. As of July 24, 2023, BofA Securities has initiated its “Buy” rating for SEAT. Earlier on March 24, 2023, Imperial Capital initiated its rating. Their recommendation was “an Outperform” for SEAT stock.
Analyzing SEAT Stock Performance
During the last five days, there has been a drop of approximately -5.24%. Over the course of the year, Vivid Seats Inc shares have dropped approximately -11.23%. Shares of the company reached a 52-week high of $6.51 on 01/03/24 and a 52-week low of $5.11 on 03/06/24. A 50-day SMA is recorded $5.84, while a 200-day SMA reached $6.83. Nevertheless, trading volume fell to 0.86 million shares from 0.88 million shares the previous day.
Support And Resistance Levels for Vivid Seats Inc (SEAT)
According to the 24-hour chart, there is a support level at 5.56, which, if violated, would cause prices to drop to 5.51. In the upper region, resistance lies at 5.68. The next price resistance is at 5.74. RSI (Relative Strength Index) is 45.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.11, which suggests the price will decrease in the coming days. Percent R is at 59.35%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Vivid Seats Inc subject to short interest?
Stocks of Vivid Seats Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.53 million shares to 6.36 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 5.83 million shares. A jump of 8.33% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.07 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.07.
