Invenomic Capital Management LP Sells 248,492 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Invenomic Capital Management LP trimmed its position in shares of Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,595,224 shares of the company's stock after selling 248,492 shares during the quarter. Invenomic Capital Management LP owned 0.77% of Vivid Seats worth $7,386,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SEAT. Stratos Wealth Partners LTD. purchased a new stake in Vivid Seats in the 4th quarter valued at about $46,000. Quinn Opportunity Partners LLC purchased a new stake in Vivid Seats in the 4th quarter worth about $46,000. Stoneridge Investment Partners LLC bought a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $53,000. BNP Paribas Financial Markets bought a new position in shares of Vivid Seats in the fourth quarter worth $53,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Vivid Seats during the 4th quarter valued at $55,000. 39.92% of the stock is owned by institutional investors.

Insider Activity at Vivid Seats

In other news, General Counsel Emily T. Epstein sold 14,476 shares of the company's stock in a transaction 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 $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 SEC, which is available through the SEC website. In the last ninety days, insiders have sold 16,138 shares of company stock valued at $33,201. 57.20% of the stock is owned by insiders.

Vivid Seats Stock Performance

Shares of Vivid Seats stock remained flat at $1.96 during midday trading on Friday. The company had a trading volume of 1,586,256 shares, compared to its average volume of 1,487,853. Vivid Seats Inc. has a 52 week low of $1.66 and a 52 week high of $5.90. 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 firm has a 50-day moving average price of $2.63 and a 200 day moving average price of $3.56.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. The company had revenue of $164.02 million during the quarter, compared to analysts' expectations of $169.99 million. On average, equities research analysts predict that Vivid Seats Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America reiterated an "underperform" rating and set a $2.60 price target (down from $6.25) on shares of Vivid Seats 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. Maxim Group reduced their price target on shares of Vivid Seats from $5.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Raymond James cut shares of Vivid Seats from a "moderate buy" rating to a "hold" rating in a report on Thursday, March 13th. Finally, Morgan Stanley dropped their price objective on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.