Vivid Seats Inc. (NASDAQ:SEAT) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC cut its holdings in Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 71.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,540 shares of the company's stock after selling 225,606 shares during the quarter. Squarepoint Ops LLC's holdings in Vivid Seats were worth $415,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Vivid Seats by 8.5% in the 4th quarter. SG Americas Securities LLC now owns 37,065 shares of the company's stock valued at $172,000 after purchasing an additional 2,909 shares in the last quarter. Plan Group Financial LLC lifted its stake in shares of Vivid Seats by 9.4% in the 4th quarter. Plan Group Financial LLC now owns 35,330 shares of the company's stock valued at $164,000 after purchasing an additional 3,048 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Vivid Seats by 17.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company's stock valued at $136,000 after buying an additional 4,288 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Vivid Seats by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company's stock worth $3,434,000 after buying an additional 5,828 shares during the period. Finally, American Century Companies Inc. grew its position in Vivid Seats by 9.6% in the 4th quarter. American Century Companies Inc. now owns 96,396 shares of the company's stock valued at $446,000 after acquiring an additional 8,450 shares in the last quarter. 39.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Emily T. Epstein sold 14,476 shares of Vivid Seats stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1.99, for a total transaction 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 trade represents a 8.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 16,138 shares of company stock valued at $33,201. Corporate insiders own 57.20% of the company's stock.

Analyst Upgrades and Downgrades

SEAT has been the subject of several recent research reports. Canaccord Genuity Group decreased their price objective on Vivid Seats from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Maxim Group decreased their price objective on Vivid Seats from $5.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. William Blair lowered Vivid Seats from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 6th. Benchmark lowered their price objective on shares of Vivid Seats from $6.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.49.

Vivid Seats Stock Up 4.9%

SEAT traded up $0.08 during midday trading on Friday, reaching $1.72. 946,768 shares of the company's stock were exchanged, compared to its average volume of 1,477,124. Vivid Seats Inc. has a 1-year low of $1.44 and a 1-year high of $5.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The business's 50-day moving average price is $2.25 and its 200 day moving average price is $3.33.

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

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.