GSA Capital Partners LLP Increases Position in Eventbrite, Inc. (NYSE:EB)

Key Points

• GSA Capital Partners LLP increased its stake in Eventbrite by 57.6%, acquiring an additional 174,978 shares, bringing its total to 478,588 shares valued at approximately $1.01 million.
• Analysts have given Eventbrite an average rating of "Hold," with a target price of $4.83, while BWS Financial reiterated a "buy" rating with a target of $7.00.
• Eventbrite reported a quarterly earnings per share of ($0.07), surpassing estimates, with revenue of $73.83 million against expected figures of $72.88 million.

GSA Capital Partners LLP grew its stake in Eventbrite, Inc. (NYSE:EB - Free Report) by 57.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 478,588 shares of the company's stock after acquiring an additional 174,978 shares during the period. GSA Capital Partners LLP owned about 0.51% of Eventbrite worth $1,010,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. purchased a new position in shares of Eventbrite in the first quarter valued at approximately $52,000. CWM LLC boosted its stake in shares of Eventbrite by 84.4% in the first quarter. CWM LLC now owns 56,757 shares of the company's stock valued at $120,000 after purchasing an additional 25,974 shares during the period. Cerity Partners LLC boosted its stake in shares of Eventbrite by 141.1% in the first quarter. Cerity Partners LLC now owns 88,477 shares of the company's stock valued at $187,000 after purchasing an additional 51,784 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Eventbrite by 80.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,917 shares of the company's stock valued at $80,000 after purchasing an additional 16,903 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in shares of Eventbrite by 52.2% in the first quarter. Pallas Capital Advisors LLC now owns 16,928 shares of the company's stock valued at $36,000 after purchasing an additional 5,803 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Eventbrite Stock Down 6.1%

EB stock traded down $0.15 during midday trading on Friday, reaching $2.29. 666,293 shares of the company were exchanged, compared to its average volume of 797,331. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.45 and a current ratio of 1.45. Eventbrite, Inc. has a 1-year low of $1.80 and a 1-year high of $4.49. The stock's 50-day simple moving average is $2.51 and its 200 day simple moving average is $2.57. The company has a market cap of $216.70 million, a price-to-earnings ratio of -12.05 and a beta of 2.09.

Eventbrite (NYSE:EB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $73.83 million for the quarter, compared to analyst estimates of $72.88 million. Eventbrite had a negative net margin of 5.66% and a negative return on equity of 10.12%. On average, equities analysts forecast that Eventbrite, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a "buy" rating and issued a $7.00 price objective on shares of Eventbrite in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Eventbrite currently has an average rating of "Hold" and an average price target of $4.83.

Eventbrite Company 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.