Wakefield Asset Management LLLP acquired a new stake in shares of Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 82,565 shares of the company's stock, valued at approximately $632,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in Vivid Seats during the first quarter valued at approximately $33,000. Strs Ohio bought a new position in shares of Vivid Seats in the second quarter valued at approximately $43,000. Legal & General Group Plc bought a new position in shares of Vivid Seats in the second quarter valued at approximately $62,000. American International Group Inc. acquired a new stake in shares of Vivid Seats in the second quarter worth $86,000. Finally, Bailard Inc. acquired a new stake in shares of Vivid Seats in the second quarter worth $92,000. Institutional investors own 31.35% of the company's stock.
Get Vivid Seats alerts:Vivid Seats Stock Performance
Shares of NASDAQ:SEAT opened at $8.31 on Thursday. Vivid Seats Inc. has a 52 week low of $6.48 and a 52 week high of $12.52. The company's fifty day moving average is $7.63 and its 200-day moving average is $8.06.
Vivid Seats (NASDAQ:SEAT – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $156.82 million for the quarter, compared to analyst estimates of $129.31 million. Vivid Seats had a negative return on equity of 2.92% and a net margin of 3.66%. As a group, equities research analysts anticipate that Vivid Seats Inc. will post 0.45 earnings per share for the current fiscal year.Insider Buying and Selling
In related news, Director Craig A. Dixon sold 4,889 shares of the company's stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $7.50, for a total transaction of $36,667.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 8,987 shares of company stock worth $68,960 in the last 90 days.
Analysts Set New Price Targets
Several brokerages have recently issued reports on SEAT. DA Davidson lowered their price objective on shares of Vivid Seats to $20.00 in a research note on Tuesday, November 15th. William Blair reiterated an "outperform" rating on shares of Vivid Seats in a research note on Wednesday, November 30th. Piper Sandler decreased their price target on shares of Vivid Seats from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, January 6th. Credit Suisse Group decreased their price target on shares of Vivid Seats from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 9th. Finally, Evercore ISI decreased their price target on shares of Vivid Seats to $8.00 in a research note on Tuesday, November 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.78.
About Vivid Seats
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Vivid Seats Inc operates as an online secondary marketplace for tickets in the United States and Canada. 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 live sports, concerts, and theater shows, and other live events.
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