Shellback Capital LP Sells 433,509 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Shellback Capital LP cut its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 81.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the company's stock after selling 433,509 shares during the period. Shellback Capital LP's holdings in Vivid Seats were worth $463,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Barclays PLC boosted its position in Vivid Seats by 353.2% in the third quarter. Barclays PLC now owns 125,163 shares of the company's stock valued at $462,000 after buying an additional 97,546 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Vivid Seats by 8.5% during the 4th quarter. SG Americas Securities LLC now owns 37,065 shares of the company's stock valued at $172,000 after acquiring an additional 2,909 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Vivid Seats by 23.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 123,412 shares of the company's stock valued at $571,000 after acquiring an additional 23,844 shares in the last quarter. Emeth Value Capital LLC acquired a new position in Vivid Seats in the 4th quarter worth about $23,250,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Vivid Seats during the fourth quarter worth about $46,000. 39.92% of the stock is owned by institutional investors and hedge funds.

Vivid Seats Price Performance

Shares of NASDAQ:SEAT traded down $0.02 during mid-day trading on Thursday, hitting $1.86. The company had a trading volume of 391,831 shares, compared to its average volume of 1,475,319. 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 Inc. has a one year low of $1.66 and a one year high of $5.90. The firm has a fifty day moving average price of $2.53 and a 200 day moving average price of $3.50.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $169.99 million. Sell-side analysts anticipate that Vivid Seats Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Vivid Seats

In related news, General Counsel Emily T. Epstein sold 14,476 shares of the 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 transaction, the general counsel now directly owns 151,194 shares in the company, valued at $300,876.06. This trade represents a 8.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 16,138 shares of company stock valued at $33,201 in the last three months. Corporate insiders own 57.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SEAT shares. Raymond James cut shares of Vivid Seats from a "moderate buy" rating to a "hold" rating in a research report on Thursday, March 13th. William Blair cut shares of Vivid Seats from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 6th. Benchmark lowered their target price 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. Maxim Group reduced their price target on Vivid Seats from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada decreased their price target on Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating for the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Vivid Seats currently has a consensus rating of "Hold" and an average price target of $4.49.

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.