Vivid Seats Inc. (NASDAQ:SEAT) is Covalent Partners LLC's 5th Largest Position

Covalent Partners LLC boosted its stake in shares of Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 66.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,000 shares of the company's stock after acquiring an additional 150,000 shares during the quarter. Vivid Seats accounts for about 9.9% of Covalent Partners LLC's investment portfolio, making the stock its 5th largest holding. Covalent Partners LLC owned approximately 0.18% of Vivid Seats worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in 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 buying an additional 195,625 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 worth $16,636,000 after purchasing an additional 125,035 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Vivid Seats by 180.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company's stock worth $9,670,000 after purchasing an additional 1,680,327 shares in the last quarter. State Street Corp increased its holdings in shares of Vivid Seats by 3.5% in the 3rd quarter. State Street Corp now owns 1,486,894 shares of the company's stock worth $5,502,000 after purchasing an additional 49,870 shares in the last quarter. Finally, Clearline Capital LP increased its holdings in shares of Vivid Seats by 6.1% in the 3rd quarter. Clearline Capital LP now owns 817,996 shares of the company's stock worth $3,027,000 after purchasing an additional 47,198 shares in the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SEAT has been the topic of a number of research reports. Craig Hallum dropped their price target on Vivid Seats from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, September 10th. Piper Sandler reaffirmed a "neutral" rating and issued a $4.00 target price (down from $5.00) on shares of Vivid Seats in a report on Friday, November 8th. Citigroup reduced their target price on Vivid Seats from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Benchmark reduced their target price on Vivid Seats from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Finally, DA Davidson reduced their target price on Vivid Seats from $6.50 to $6.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $6.67.

Vivid Seats Stock Up 5.3 %

NASDAQ SEAT traded up $0.18 during trading hours on Tuesday, hitting $3.55. 1,333,029 shares of the company were exchanged, compared to its average volume of 1,397,943. The stock has a 50-day moving average price of $3.73 and a 200 day moving average price of $4.39. 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 52 week low of $3.24 and a 52 week high of $7.17.

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.