Massachusetts Financial Services Co. MA Buys 160,851 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Massachusetts Financial Services Co. MA increased its stake in Vivid Seats Inc. (NASDAQ:SEATFree Report) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,240,177 shares of the company’s stock after acquiring an additional 160,851 shares during the period. Massachusetts Financial Services Co. MA owned about 2.16% of Vivid Seats worth $27,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Boston Partners bought a new position in Vivid Seats during the 3rd quarter valued at approximately $10,436,000. M&T Bank Corp bought a new position in Vivid Seats during the 3rd quarter valued at approximately $460,000. Brandywine Global Investment Management LLC raised its position in Vivid Seats by 10.4% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 1,400,761 shares of the company’s stock valued at $11,094,000 after purchasing an additional 131,748 shares during the last quarter. Capula Management Ltd bought a new position in Vivid Seats during the 3rd quarter valued at approximately $907,000. Finally, Trexquant Investment LP bought a new position in Vivid Seats during the 2nd quarter valued at approximately $495,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Performance

SEAT stock opened at $5.88 on Friday. Vivid Seats Inc. has a fifty-two week low of $5.42 and a fifty-two week high of $9.89. The business’s 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.77. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20.

Vivid Seats (NASDAQ:SEATGet Free Report) last posted its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Vivid Seats had a negative return on equity of 19.99% and a net margin of 8.78%. The firm had revenue of $188.13 million for the quarter, compared to the consensus estimate of $154.20 million. Sell-side analysts forecast that Vivid Seats Inc. will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

Separately, Craig Hallum assumed coverage on Vivid Seats in a research report on Friday. They set a “buy” rating and a $10.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.28.

Get Our Latest Research Report on SEAT

Insiders Place Their Bets

In related news, major shareholder Hoya Topco, Llc sold 23,575,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $6.24, for a total value of $147,108,000.00. Following the sale, the insider now owns 82,225,000 shares in the company, valued at approximately $513,084,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 23,584,776 shares of company stock worth $147,170,899. Company insiders own 85.66% of the company’s stock.

Vivid Seats Company Profile

(Free Report)

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 sports, concerts, and theater shows, and other live events.

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Institutional Ownership by Quarter for Vivid Seats (NASDAQ:SEAT)

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