Invenomic Capital Management LP Trims Stake in Vivid Seats Inc. (NASDAQ:SEAT)

Invenomic Capital Management LP decreased its position in shares of Vivid Seats Inc. (NASDAQ:SEATFree Report) by 42.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 395,324 shares of the company’s stock after selling 291,413 shares during the period. Invenomic Capital Management LP owned about 0.20% of Vivid Seats worth $2,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boston Partners grew its holdings in shares of Vivid Seats by 118.3% during the 4th quarter. Boston Partners now owns 3,597,970 shares of the company’s stock worth $22,626,000 after acquiring an additional 1,949,891 shares during the period. FMR LLC grew its stake 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 buying an additional 223,676 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Vivid Seats in the 4th quarter worth approximately $10,815,000. Brandywine Global Investment Management LLC grew its stake 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 buying an additional 114,815 shares during the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Vivid Seats by 308.5% in the 4th quarter. Verition Fund Management LLC now owns 836,222 shares of the company’s stock worth $5,285,000 after buying an additional 631,530 shares during the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SEAT. Canaccord Genuity Group cut their price target on Vivid Seats from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. DA Davidson began coverage on Vivid Seats in a research note on Thursday, May 30th. They issued a “buy” rating and a $7.00 price target on the stock. Benchmark restated a “buy” rating and issued a $15.00 price target on shares of Vivid Seats in a research note on Wednesday, May 1st. Royal Bank of Canada cut their target price on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 6th. Finally, Maxim Group increased their target price on Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Vivid Seats currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.86.

View Our Latest Report on Vivid Seats

Vivid Seats Stock Up 1.1 %

NASDAQ:SEAT opened at $5.28 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.57 and a quick ratio of 0.51. The business’s 50-day simple moving average is $5.44 and its two-hundred day simple moving average is $5.95. Vivid Seats Inc. has a 52 week low of $4.70 and a 52 week high of $8.80.

Vivid Seats (NASDAQ:SEATGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $190.85 million for the quarter, compared to the consensus estimate of $181.56 million. Vivid Seats had a net margin of 9.21% and a negative return on equity of 170.34%. On average, equities research analysts predict that Vivid Seats Inc. will post 0.26 EPS for the current year.

About Vivid Seats

(Free Report)

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.

See Also

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

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