Shellback Capital LP decreased its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 81.3% in the fourth quarter, according to its most recent 13F filing 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 reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers increased its position in Vivid Seats by 64.9% during the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company's stock valued at $772,000 after buying an additional 65,620 shares in the last quarter. Emeth Value Capital LLC purchased a new stake in shares of Vivid Seats during the 4th quarter valued at about $23,250,000. Barclays PLC increased its position in shares of Vivid Seats by 353.2% during the 3rd quarter. Barclays PLC now owns 125,163 shares of the company's stock valued at $462,000 after purchasing an additional 97,546 shares during the last quarter. Huber Capital Management LLC purchased a new stake in Vivid Seats in the 4th quarter worth approximately $3,627,000. Finally, EntryPoint Capital LLC boosted its stake in Vivid Seats by 617.1% in the 4th quarter. EntryPoint Capital LLC now owns 115,976 shares of the company's stock worth $537,000 after purchasing an additional 99,802 shares during the period. Institutional investors own 39.92% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently commented on SEAT. Raymond James downgraded Vivid Seats from a "moderate buy" rating to a "hold" rating in a research report on Thursday, March 13th. Bank of America reiterated an "underperform" rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Benchmark decreased 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 cut their price target on Vivid Seats from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group cut their target price on Vivid Seats from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.49.
Read Our Latest Analysis on Vivid Seats
Insiders Place Their Bets
In other news, General Counsel Emily T. Epstein sold 14,476 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $300,876.06. This represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 16,138 shares of company stock valued at $33,201 over the last 90 days. 57.20% of the stock is owned by company insiders.
Vivid Seats Stock Up 2.6%
NASDAQ:SEAT traded up $0.05 during trading hours on Tuesday, hitting $1.97. The company had a trading volume of 975,836 shares, compared to its average volume of 1,484,327. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $2.55 and a 200 day moving average of $3.51. Vivid Seats Inc. has a 1 year low of $1.66 and a 1 year high of $5.90.
Vivid Seats (NASDAQ:SEAT - Get Free Report) last issued its 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 company 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%. On average, analysts expect that Vivid Seats Inc. will post 0.12 earnings per share for the current year.
Vivid Seats Company Profile
(
Free Report)
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.
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