Boston Partners Sells 1,235,015 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Boston Partners decreased its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 41.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,764,035 shares of the company's stock after selling 1,235,015 shares during the quarter. Boston Partners owned about 0.85% of Vivid Seats worth $8,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new stake in shares of Vivid Seats during the 3rd quarter valued at $37,000. Stratos Wealth Partners LTD. bought a new stake in shares of Vivid Seats during the fourth quarter valued at about $46,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Vivid Seats in the fourth quarter worth about $53,000. Intech Investment Management LLC purchased a new stake in shares of Vivid Seats in the third quarter worth about $87,000. Finally, Plan Group Financial LLC boosted its position in shares of Vivid Seats by 9.4% in the fourth quarter. Plan Group Financial LLC now owns 35,330 shares of the company's stock valued at $164,000 after acquiring an additional 3,048 shares during the period. Hedge funds and other institutional investors own 39.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SEAT. Canaccord Genuity Group lowered their target price on shares of Vivid Seats from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Raymond James downgraded Vivid Seats from a "moderate buy" rating to a "hold" rating in a research report on Thursday, March 13th. Bank of America reissued an "underperform" rating and set a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Morgan Stanley decreased their target price on Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Finally, Benchmark dropped their price target on Vivid Seats from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.49.

Remove Ads

Vivid Seats Stock Performance

Shares of SEAT stock traded down $0.20 during trading hours on Friday, hitting $2.81. 2,289,641 shares of the company's stock were exchanged, compared to its average volume of 1,306,531. Vivid Seats Inc. has a 12-month low of $2.51 and a 12-month high of $6.09. The business's 50 day simple moving average is $4.12 and its 200-day simple moving average is $3.95. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

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.