Connor Clark & Lunn Investment Management Ltd. Purchases 20,774 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Connor Clark & Lunn Investment Management Ltd. increased its position in Vivid Seats Inc. (NASDAQ:SEAT) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,056 shares of the company’s stock after purchasing an additional 20,774 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vivid Seats were worth $959,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Vivid Seats by 3.4% in the 3rd quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after purchasing an additional 195,625 shares in the last quarter. Emeth Value Capital LLC bought a new position in shares of Vivid Seats in the 4th quarter worth $23,250,000. Massachusetts Financial Services Co. MA raised its position in Vivid Seats by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock valued at $16,636,000 after buying an additional 125,035 shares during the last quarter. Geode Capital Management LLC raised its position in Vivid Seats by 18.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock valued at $7,309,000 after buying an additional 314,482 shares during the last quarter. Finally, State Street Corp raised its position in Vivid Seats by 3.5% in the 3rd quarter. State Street Corp now owns 1,486,894 shares of the company’s stock valued at $5,502,000 after buying an additional 49,870 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America reissued an “underperform” rating and issued a $2.60 price target (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Canaccord Genuity Group lowered their price target on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Morgan Stanley lowered their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Raymond James lowered Vivid Seats from a “moderate buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, Royal Bank of Canada lowered their price target on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.49.

Vivid Seats Stock Up 4.5 %

Shares of Vivid Seats stock opened at $3.01 on Friday. The stock has a fifty day moving average price of $4.15 and a 200-day moving average price of $3.97. Vivid Seats Inc. has a 1 year low of $2.51 and a 1 year high of $6.09. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

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.