Harbor Capital Advisors Inc. Sells 1,211,358 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Harbor Capital Advisors Inc. lowered its position in Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 47.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332,970 shares of the company's stock after selling 1,211,358 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.64% of Vivid Seats worth $3,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SEAT. Stratos Wealth Partners LTD. bought a new stake in shares of Vivid Seats in the 4th quarter valued at approximately $46,000. Quinn Opportunity Partners LLC bought a new stake in Vivid Seats in the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets bought a new stake in Vivid Seats in the fourth quarter worth approximately $53,000. Pictet Asset Management Holding SA acquired a new position in shares of Vivid Seats during the 4th quarter worth $55,000. Finally, Penn Capital Management Company LLC bought a new position in shares of Vivid Seats during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 39.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SEAT. Raymond James cut shares of Vivid Seats from a "moderate buy" rating to a "hold" rating in a report on Thursday, March 13th. Morgan Stanley lowered 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. Royal Bank of Canada reduced their target price on Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. Bank of America reaffirmed an "underperform" rating and set a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Finally, William Blair lowered shares of Vivid Seats from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Vivid Seats has an average rating of "Hold" and a consensus target price of $4.49.

Vivid Seats Stock Performance

NASDAQ:SEAT traded down $0.01 during trading hours on Friday, hitting $1.79. 1,570,037 shares of the company traded hands, compared to its average volume of 1,485,739. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. Vivid Seats Inc. has a twelve month low of $1.44 and a twelve month high of $5.90. The firm has a 50-day moving average of $2.16 and a 200 day moving average of $3.27.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last announced 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 net margin of 4.56% and a return on equity of 21.29%. The company had revenue of $164.02 million for the quarter, compared to analyst estimates of $169.99 million. On average, sell-side analysts expect that Vivid Seats Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other Vivid Seats news, General Counsel Emily T. Epstein sold 14,476 shares of Vivid Seats stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1.99, for a total transaction of $28,807.24. Following the sale, the general counsel now owns 151,194 shares in the company, valued at $300,876.06. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 57.20% of the stock is currently owned by company insiders.

Vivid Seats Company Profile

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.