Hoya Topco, Llc Sells 16,000,000 Shares of Vivid Seats Inc. (NASDAQ:SEAT) Stock

Vivid Seats Inc. (NASDAQ:SEATGet Rating) major shareholder Hoya Topco, Llc sold 16,000,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $7.68, for a total value of $122,880,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Vivid Seats Stock Down 2.5 %

Shares of SEAT stock opened at $7.52 on Friday. The business has a 50 day moving average of $7.70 and a two-hundred day moving average of $7.76. Vivid Seats Inc. has a 52 week low of $6.29 and a 52 week high of $9.89. The company has a market cap of $1.47 billion, a P/E ratio of 15.35 and a beta of 0.92.

Vivid Seats (NASDAQ:SEATGet Rating) last issued its earnings results on Tuesday, March 7th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Vivid Seats had a negative return on equity of 9.71% and a net margin of 6.28%. The company had revenue of $164.99 million during the quarter, compared to the consensus estimate of $154.87 million. Analysts expect that Vivid Seats Inc. will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE acquired a new stake in Vivid Seats in the first quarter worth approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Vivid Seats in the third quarter valued at $48,000. Quarry LP raised its stake in Vivid Seats by 291.2% during the 1st quarter. Quarry LP now owns 6,584 shares of the company’s stock valued at $50,000 after purchasing an additional 4,901 shares during the period. Legal & General Group Plc acquired a new stake in shares of Vivid Seats during the second quarter worth approximately $62,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Vivid Seats by 77.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,851 shares of the company’s stock worth $75,000 after acquiring an additional 4,311 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SEAT has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price objective on Vivid Seats from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Vivid Seats from $9.00 to $10.00 in a research report on Monday, May 15th. Raymond James lifted their target price on Vivid Seats from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 8th. Finally, Imperial Capital started coverage on Vivid Seats in a research report on Friday, March 24th. They set an “outperform” rating and a $9.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Vivid Seats presently has an average rating of “Moderate Buy” and an average price target of $11.00.

About Vivid Seats

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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.

Further Reading

Insider Buying and Selling by Quarter for Vivid Seats (NASDAQ:SEAT)

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