Clearbridge Investments LLC Decreases Stake in Vivid Seats Inc. (NASDAQ:SEAT)

Clearbridge Investments LLC reduced its holdings in Vivid Seats Inc. (NASDAQ:SEAT) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,980,667 shares of the company’s stock after selling 32,211 shares during the period. Clearbridge Investments LLC owned approximately 0.95% of Vivid Seats worth $11,389,000 as of its most recent filing with the Securities and Exchange Commission.

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

Vivid Seats Trading Up 5.7 %

Shares of SEAT stock opened at $3.55 on Friday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The stock has a market capitalization of $737.16 million, a P/E ratio of 6.73, a price-to-earnings-growth ratio of 14.46 and a beta of 1.21. The company has a 50 day moving average price of $4.18 and a 200 day moving average price of $5.00. Vivid Seats Inc. has a fifty-two week low of $3.36 and a fifty-two week high of $8.80.

Vivid Seats (NASDAQ:SEAT) last announced 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). The business had revenue of $198.32 million during the quarter, compared to analyst estimates of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same quarter last year, the firm posted $0.20 EPS. Equities research analysts predict that Vivid Seats Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SEAT has been the subject of a number of recent analyst reports. Canaccord Genuity Group dropped their price target 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research report on Monday, August 12th. DA Davidson dropped their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Citigroup dropped their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Benchmark dropped their price target 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.28.

Vivid Seats 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.