Vivid Seats Inc. (NASDAQ:SEAT) Short Interest Down 13.7% in May

Vivid Seats Inc. (NASDAQ:SEAT - Get Free Report) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totalling 10,420,000 shares, a decline of 13.7% from the April 30th total of 12,070,000 shares. Approximately 15.5% of the company's stock are short sold. Based on an average trading volume of 2,060,000 shares, the short-interest ratio is currently 5.1 days.

Insider Buying and Selling

In related news, General Counsel Emily T. Epstein sold 14,476 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1.99, for a total transaction of $28,807.24. Following the transaction, the general counsel now directly 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 legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 16,138 shares of company stock valued at $33,201. Corporate insiders own 57.20% of the company's stock.

Institutional Investors Weigh In On Vivid Seats

Institutional investors have recently bought and sold shares of the stock. Boston Partners raised its position in shares of Vivid Seats by 152.9% in the 1st quarter. Boston Partners now owns 4,461,831 shares of the company's stock worth $13,202,000 after acquiring an additional 2,697,796 shares in the last quarter. Emeth Value Capital LLC boosted its stake in Vivid Seats by 19.4% during the 1st quarter. Emeth Value Capital LLC now owns 5,997,854 shares of the company's stock valued at $17,754,000 after purchasing an additional 976,362 shares during the last quarter. Huber Capital Management LLC purchased a new stake in Vivid Seats during the 4th quarter valued at $3,627,000. Visualize Group LP purchased a new position in shares of Vivid Seats in the 4th quarter worth $3,327,000. Finally, Anson Funds Management LP boosted its stake in shares of Vivid Seats by 88.2% in the 1st quarter. Anson Funds Management LP now owns 1,173,828 shares of the company's stock worth $3,475,000 after buying an additional 550,000 shares during the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SEAT has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th. Raymond James lowered Vivid Seats from a "moderate buy" rating to a "hold" rating in a research report on Thursday, March 13th. Maxim Group cut their target price 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. Morgan Stanley cut their target price on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.49.

Vivid Seats Trading Up 4.9%

Shares of NASDAQ SEAT traded up $0.08 during midday trading on Friday, reaching $1.72. The company's stock had a trading volume of 946,768 shares, compared to its average volume of 1,480,061. Vivid Seats has a 12-month low of $1.44 and a 12-month high of $5.90. The firm has a 50 day moving average price of $2.25 and a 200-day moving average price of $3.33. 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 (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 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 business had revenue of $164.02 million for the quarter, compared to the consensus estimate of $169.99 million. As a group, analysts anticipate that Vivid Seats will post 0.12 earnings per share 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.