Clearline Capital LP Purchases 395,942 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Clearline Capital LP grew its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 105.6% in the second quarter, Holdings Channel.com reports. The firm owned 770,798 shares of the company’s stock after buying an additional 395,942 shares during the period. Clearline Capital LP’s holdings in Vivid Seats were worth $4,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its stake in shares of Vivid Seats by 301.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after buying an additional 5,594 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Vivid Seats during the second quarter worth $61,000. Marshall Wace LLP bought a new position in shares of Vivid Seats in the second quarter worth $67,000. Entropy Technologies LP purchased a new position in shares of Vivid Seats in the first quarter valued at $101,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Vivid Seats by 259.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock valued at $124,000 after purchasing an additional 14,927 shares during the period. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SEAT shares. Benchmark cut their target price on Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Canaccord Genuity Group cut their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Royal Bank of Canada decreased their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Finally, Citigroup decreased their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.28.

Vivid Seats Stock Performance

Vivid Seats stock opened at $3.59 on Friday. The company has a market capitalization of $745.47 million, a PE ratio of 6.56, a P/E/G ratio of 14.46 and a beta of 1.22. Vivid Seats Inc. has a twelve month low of $3.58 and a twelve month high of $8.80. The firm has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $5.08. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. The business had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. Research analysts expect that Vivid Seats Inc. will post 0.14 EPS 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.