Vivid Seats Inc. (NASDAQ:SEAT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 758,837 shares of the company's stock after selling 302,749 shares during the period. Bank of America Corp DE owned 0.37% of Vivid Seats worth $3,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SEAT. Huber Capital Management LLC acquired a new position in shares of Vivid Seats in the 4th quarter valued at $3,627,000. Visualize Group LP acquired a new stake in Vivid Seats during the 4th quarter worth about $3,327,000. Ameriprise Financial Inc. grew its position in Vivid Seats by 18.4% during the 4th quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company's stock worth $9,051,000 after purchasing an additional 303,878 shares during the period. Manatuck Hill Partners LLC acquired a new stake in Vivid Seats during the 4th quarter worth about $1,158,000. Finally, CenterBook Partners LP grew its position in Vivid Seats by 20.7% during the 4th quarter. CenterBook Partners LP now owns 872,023 shares of the company's stock worth $4,037,000 after purchasing an additional 149,314 shares during the period. 39.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on SEAT. Morgan Stanley cut their price target on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Canaccord Genuity Group cut their price target on Vivid Seats from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Bank of America reaffirmed an "underperform" rating and set a $2.60 price target (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Maxim Group cut their price target on Vivid Seats from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Raymond James lowered shares of Vivid Seats from a "moderate buy" rating to a "hold" rating in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Vivid Seats presently has a consensus rating of "Hold" and an average target price of $4.49.

Vivid Seats Price Performance

Vivid Seats stock traded down $0.08 during midday trading on Monday, reaching $1.48. The company had a trading volume of 1,270,804 shares, compared to its average volume of 1,468,545. Vivid Seats Inc. has a 12-month low of $1.47 and a 12-month high of $5.90. The firm's fifty day simple moving average is $2.38 and its 200-day simple moving average is $3.39. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The company had revenue of $164.02 million during the quarter, compared to analysts' expectations of $169.99 million. Vivid Seats had a net margin of 4.56% and a return on equity of 21.29%. On average, analysts anticipate that Vivid Seats Inc. will post 0.12 EPS for the current year.

Insider Activity at Vivid Seats

In other Vivid Seats news, General Counsel Emily T. Epstein sold 14,476 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1.99, for a total value of $28,807.24. Following the completion of the sale, the general counsel now owns 151,194 shares in the company, valued at approximately $300,876.06. This represents a 8.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 16,138 shares of company stock valued at $33,201. 57.20% of the stock is owned by corporate insiders.

About Vivid Seats

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.