JPMorgan Chase & Co. Sells 103,368 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

JPMorgan Chase & Co. trimmed its stake in Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 834,810 shares of the company's stock after selling 103,368 shares during the period. JPMorgan Chase & Co. owned about 0.40% of Vivid Seats worth $3,089,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SEAT. Harbor Capital Advisors Inc. lifted its stake in shares of Vivid Seats by 180.0% in the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company's stock valued at $9,670,000 after buying an additional 1,680,327 shares during the period. Clearline Capital LP grew its holdings in shares of Vivid Seats by 105.6% during the 2nd quarter. Clearline Capital LP now owns 770,798 shares of the company's stock worth $4,432,000 after purchasing an additional 395,942 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Vivid Seats by 18.9% during the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company's stock valued at $7,309,000 after purchasing an additional 314,482 shares during the period. Renaissance Technologies LLC raised its stake in shares of Vivid Seats by 183.4% in the second quarter. Renaissance Technologies LLC now owns 324,228 shares of the company's stock valued at $1,864,000 after purchasing an additional 209,828 shares in the last quarter. Finally, FMR LLC lifted its position in Vivid Seats by 3.4% in the third 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 during the period. Institutional investors own 39.92% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Vivid Seats from $7.00 to $6.00 and set a "sector perform" rating on the stock in a report on Monday, November 11th. Maxim Group lowered their target price on shares of Vivid Seats from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Benchmark cut their price target on shares of Vivid Seats from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Piper Sandler reiterated a "neutral" rating and issued a $4.00 price objective (down from $5.00) on shares of Vivid Seats in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Vivid Seats from $4.50 to $4.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $6.63.

Vivid Seats Stock Performance

SEAT stock traded down $0.07 during midday trading on Monday, reaching $4.78. 872,438 shares of the company's stock traded hands, compared to its average volume of 1,232,150. The company has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $4.16. 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 Inc. has a 1-year low of $3.24 and a 1-year high of $6.41.

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.