Granahan Investment Management LLC reduced its position in Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,381,198 shares of the company's stock after selling 1,432,787 shares during the quarter. Granahan Investment Management LLC owned about 1.63% of Vivid Seats worth $15,655,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Stratos Wealth Partners LTD. acquired a new stake in shares of Vivid Seats during the fourth quarter worth $46,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Vivid Seats during the fourth quarter worth about $46,000. Stoneridge Investment Partners LLC purchased a new stake in Vivid Seats in the fourth quarter valued at approximately $53,000. BNP Paribas Financial Markets purchased a new position in Vivid Seats during the 4th quarter worth approximately $53,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Vivid Seats during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 39.92% of the company's stock.
Wall Street Analyst Weigh In
SEAT has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on shares of Vivid Seats from $4.00 to $2.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 7th. Raymond James cut Vivid Seats from a "moderate buy" rating to a "hold" rating in a research report on Thursday, March 13th. Benchmark lowered their price target on Vivid Seats from $6.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley cut their price objective on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Canaccord Genuity Group decreased their target price on Vivid Seats from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.49.
Check Out Our Latest Report on SEAT
Insider Buying and Selling at Vivid Seats
In other news, General Counsel Emily T. Epstein sold 14,476 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1.99, for a total transaction of $28,807.24. Following the completion of the transaction, the general counsel now directly owns 151,194 shares of the company's stock, valued at approximately $300,876.06. This represents a 8.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 16,138 shares of company stock worth $33,201 over the last ninety days. Corporate insiders own 57.20% of the company's stock.
Vivid Seats Stock Performance
Shares of Vivid Seats stock traded down $0.21 on Thursday, reaching $2.03. 3,421,575 shares of the company were exchanged, compared to its average volume of 1,484,325. The stock's 50 day moving average price is $2.66 and its 200-day moving average price is $3.58. 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 1-year low of $1.66 and a 1-year high of $5.90.
Vivid Seats (NASDAQ:SEAT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. The firm had revenue of $164.02 million for the quarter, compared to analyst estimates of $169.99 million. Research analysts anticipate that Vivid Seats Inc. will post 0.12 EPS 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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