Vivid Seats Inc. (NASDAQ:SEAT) Position Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 54.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,918,434 shares of the company's stock after selling 2,253,849 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.92% of Vivid Seats worth $5,679,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Quinn Opportunity Partners LLC purchased a new position in Vivid Seats in the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets purchased a new position in Vivid Seats in the fourth quarter worth approximately $53,000. Pictet Asset Management Holding SA purchased a new position in Vivid Seats in the fourth quarter worth approximately $55,000. Penn Capital Management Company LLC purchased a new position in Vivid Seats in the fourth quarter worth approximately $56,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Vivid Seats in the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 39.92% of the company's stock.

Vivid Seats Stock Performance

Shares of SEAT stock traded down $0.07 on Friday, reaching $1.63. 1,451,566 shares of the stock were exchanged, compared to its average volume of 1,511,122. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $1.80 and a two-hundred day moving average of $2.95. Vivid Seats Inc. has a 1-year low of $1.44 and a 1-year high of $5.40.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). Vivid Seats had a negative return on equity of 2.17% and a negative net margin of 0.35%. The firm had revenue of $164.02 million for the quarter, compared to analyst estimates of $169.99 million. Research analysts predict that Vivid Seats Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at Vivid Seats

In other Vivid Seats news, General Counsel Emily T. Epstein sold 14,476 shares of the company's 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 transaction, the general counsel directly owned 151,194 shares of the company's stock, valued at $300,876.06. This represents a 8.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 88.46% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SEAT shares. Benchmark lowered their price objective on Vivid Seats from $6.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Royal Bank Of Canada lowered their price target on Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 7th. William Blair lowered Vivid Seats from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their target price on Vivid Seats from $5.00 to $4.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Maxim Group decreased their target price on Vivid Seats from $5.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $4.49.

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.