Bank of New York Mellon Corp Purchases 37,671 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Bank of New York Mellon Corp lifted its stake in Vivid Seats Inc. (NASDAQ:SEAT) by 13.0% during the second quarter, HoldingsChannel.com reports. The firm owned 327,175 shares of the company’s stock after purchasing an additional 37,671 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vivid Seats were worth $1,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its holdings in Vivid Seats by 618.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 933,292 shares of the company’s stock worth $5,366,000 after buying an additional 803,300 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Vivid Seats by 259.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock worth $124,000 after buying an additional 14,927 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Vivid Seats by 19.8% during the first quarter. California State Teachers Retirement System now owns 67,612 shares of the company’s stock valued at $405,000 after purchasing an additional 11,188 shares in the last quarter. Invenomic Capital Management LP boosted its holdings in Vivid Seats by 289.4% in the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock worth $9,220,000 after buying an additional 1,143,870 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Vivid Seats by 10.1% in the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after acquiring an additional 273,734 shares during the period. 39.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SEAT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada cut their price objective on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Benchmark lowered their price objective on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Piper Sandler lowered their price objective on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, DA Davidson dropped their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.06.

Vivid Seats Price Performance

Vivid Seats stock opened at $4.18 on Wednesday. Vivid Seats Inc. has a 12-month low of $3.58 and a 12-month high of $8.80. The stock has a market cap of $867.99 million, a P/E ratio of 7.20, a PEG ratio of 15.64 and a beta of 1.22. The company has a 50-day moving average price of $4.61 and a 200 day moving average price of $5.17. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48.

Vivid Seats (NASDAQ:SEAT) last posted its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. During the same period in the previous year, the company posted $0.20 EPS. Sell-side analysts anticipate that Vivid Seats Inc. will post 0.14 earnings per share for the current year.

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.