Sanctuary Advisors LLC Makes New Investment in Vivid Seats Inc. (NASDAQ:SEAT)

Sanctuary Advisors LLC purchased a new position in shares of Vivid Seats Inc. (NASDAQ:SEAT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,671 shares of the company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Clearline Capital LP raised its stake in shares of Vivid Seats by 105.6% in the second quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock valued at $4,432,000 after acquiring an additional 395,942 shares during the last quarter. Janus Henderson Group PLC raised 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 valued at $17,849,000 after acquiring an additional 273,734 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Vivid Seats by 17.6% in the first quarter. Clearbridge Investments LLC now owns 2,012,878 shares of the company’s stock valued at $12,057,000 after acquiring an additional 301,623 shares during the last quarter. Swiss National Bank raised its stake in shares of Vivid Seats by 14.0% in the first quarter. Swiss National Bank now owns 132,100 shares of the company’s stock valued at $791,000 after acquiring an additional 16,200 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Vivid Seats in the first quarter valued at approximately $230,000. Institutional investors own 39.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SEAT. DA Davidson cut their target price on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Canaccord Genuity Group cut their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Citigroup lowered their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, September 20th. Royal Bank of Canada lowered their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler lowered their price target on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.28.

Vivid Seats Price Performance

SEAT opened at $4.14 on Friday. The company has a fifty day moving average price of $4.09 and a two-hundred day moving average price of $4.87. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. Vivid Seats Inc. has a 52 week low of $3.36 and a 52 week high of $8.80. The firm has a market capitalization of $859.68 million, a PE ratio of 7.31, a P/E/G ratio of 14.98 and a beta of 1.21.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS 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 for the quarter, compared to analyst estimates of $194.68 million. During the same period in the prior year, the firm posted $0.20 EPS. As a group, 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.