Bank of New York Mellon Corp Trims Holdings in Vivid Seats Inc. (NASDAQ:SEAT)

Bank of New York Mellon Corp decreased its position in Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 33.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,362 shares of the company's stock after selling 87,893 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of Vivid Seats worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Emeth Value Capital LLC acquired a new stake in shares of Vivid Seats during the fourth quarter worth about $23,250,000. Geode Capital Management LLC raised its position in Vivid Seats by 18.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company's stock worth $7,309,000 after buying an additional 314,482 shares during the last quarter. FMR LLC lifted its stake in Vivid Seats by 3.4% during the 3rd quarter. FMR LLC now owns 5,970,058 shares of the company's stock valued at $22,089,000 after acquiring an additional 195,625 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Vivid Seats by 35.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company's stock valued at $2,723,000 after acquiring an additional 194,561 shares during the last quarter. Finally, Covalent Partners LLC boosted its holdings in shares of Vivid Seats by 66.7% in the 3rd quarter. Covalent Partners LLC now owns 375,000 shares of the company's stock valued at $1,388,000 after acquiring an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SEAT. Bank of America restated an "underperform" rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Benchmark decreased their price objective on Vivid Seats from $8.00 to $6.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Canaccord Genuity Group dropped their target price on Vivid Seats from $6.00 to $5.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Morgan Stanley reduced 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. Finally, Royal Bank of Canada reduced their price target on shares of 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.49.

Vivid Seats Stock Performance

Shares of NASDAQ SEAT traded down $0.04 during midday trading on Friday, reaching $2.93. 1,522,444 shares of the stock were exchanged, compared to its average volume of 1,335,544. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The company has a 50 day simple moving average of $3.94 and a 200 day simple moving average of $3.89. Vivid Seats Inc. has a twelve month low of $2.51 and a twelve month high of $6.09.

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.