Broad Bay Capital Management LP Sells 1,438,249 Shares of Eventbrite, Inc. (NYSE:EB)

Broad Bay Capital Management LP trimmed its holdings in Eventbrite, Inc. (NYSE:EB - Free Report) by 70.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 598,903 shares of the company's stock after selling 1,438,249 shares during the quarter. Eventbrite comprises about 0.2% of Broad Bay Capital Management LP's portfolio, making the stock its 22nd biggest position. Broad Bay Capital Management LP owned approximately 0.62% of Eventbrite worth $2,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its stake in Eventbrite by 4.5% during the 4th quarter. Ameriprise Financial Inc. now owns 237,387 shares of the company's stock worth $798,000 after buying an additional 10,144 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Eventbrite in the 4th quarter worth $66,000. Nantahala Capital Management LLC grew its position in Eventbrite by 76.5% in the 4th quarter. Nantahala Capital Management LLC now owns 5,930,947 shares of the company's stock valued at $19,928,000 after purchasing an additional 2,569,747 shares during the period. Tudor Investment Corp ET AL bought a new stake in Eventbrite during the 4th quarter valued at $669,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Eventbrite during the fourth quarter worth $1,179,000. Institutional investors own 91.64% of the company's stock.

Analyst Ratings Changes

EB has been the subject of a number of analyst reports. B. Riley reiterated a "neutral" rating and set a $3.50 price objective (down from $5.00) on shares of Eventbrite in a report on Friday, February 28th. BWS Financial reissued a "buy" rating and set a $7.00 price objective on shares of Eventbrite in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.25.

Eventbrite Stock Up 7.3 %

NYSE:EB traded up $0.17 on Friday, hitting $2.49. The stock had a trading volume of 1,859,371 shares, compared to its average volume of 1,456,194. Eventbrite, Inc. has a 1 year low of $1.81 and a 1 year high of $5.92. The firm's fifty day simple moving average is $2.18 and its two-hundred day simple moving average is $3.00. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $235.63 million, a P/E ratio of -27.67 and a beta of 2.02.

Eventbrite (NYSE:EB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Eventbrite had a negative return on equity of 4.44% and a negative net margin of 2.42%. The company had revenue of $73.83 million during the quarter, compared to the consensus estimate of $72.88 million. Analysts predict that Eventbrite, Inc. will post -0.12 earnings per share for the current year.

Eventbrite Profile

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.