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

Harbor Capital Advisors Inc. lowered its stake in Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 47.6% during the first quarter, according to the company in its most recent Form 13F filing with the 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 about 0.64% of Vivid Seats worth $3,946,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Stratos Wealth Partners LTD. bought a new stake in shares of Vivid Seats in the fourth quarter valued at about $46,000. Equitable Trust Co. lifted its stake in shares of Vivid Seats by 11.1% in the 4th quarter. Equitable Trust Co. now owns 133,485 shares of the company's stock valued at $618,000 after acquiring an additional 13,375 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Vivid Seats by 64.9% during the fourth quarter. Rhumbline Advisers now owns 166,697 shares of the company's stock valued at $772,000 after purchasing an additional 65,620 shares in the last quarter. Plan Group Financial LLC raised its position in Vivid Seats by 9.4% during the 4th quarter. Plan Group Financial LLC now owns 35,330 shares of the company's stock worth $164,000 after purchasing an additional 3,048 shares during the last quarter. Finally, Impact Investors Inc acquired a new position in Vivid Seats during the 4th quarter worth approximately $167,000. 39.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Emily T. Epstein sold 14,476 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1.99, for a total value of $28,807.24. Following the sale, the general counsel now owns 151,194 shares of the company's stock, valued at approximately $300,876.06. The trade was a 8.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 57.20% of the stock is currently owned by corporate insiders.

Vivid Seats Stock Performance

Shares of SEAT traded up $0.02 during trading hours on Thursday, reaching $1.81. The company had a trading volume of 256,112 shares, compared to its average volume of 1,475,633. Vivid Seats Inc. has a 12-month low of $1.44 and a 12-month high of $5.90. The firm has a 50 day simple moving average of $2.19 and a 200-day simple moving average of $3.29. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last announced its quarterly earnings results 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 business 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%. As a group, equities analysts expect that Vivid Seats Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SEAT has been the topic of a number of analyst reports. Raymond James downgraded shares of Vivid Seats from a "moderate buy" rating to a "hold" rating in a report on Thursday, March 13th. Morgan Stanley cut their price target on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Maxim Group decreased their price objective on shares of Vivid Seats from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. William Blair cut shares of Vivid Seats from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada cut their target price on shares of Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 7th. One 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 company's stock. Based on data from MarketBeat, Vivid Seats currently has an average rating of "Hold" and a consensus target price 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.