Penserra Capital Management LLC Trims Stock Holdings in Vivid Seats Inc. (NASDAQ:SEAT)

Penserra Capital Management LLC lessened its position in shares of Vivid Seats Inc. (NASDAQ:SEAT - Free Report) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 647,558 shares of the company's stock after selling 149,436 shares during the quarter. Penserra Capital Management LLC owned 0.31% of Vivid Seats worth $2,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Vivid Seats by 35.9% during the third 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. Massachusetts Financial Services Co. MA increased its position in Vivid Seats by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company's stock worth $16,636,000 after buying an additional 125,035 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Vivid Seats in the third quarter worth about $87,000. Oppenheimer & Co. Inc. purchased a new stake in Vivid Seats in the third quarter worth about $37,000. Finally, Victory Capital Management Inc. increased its position in Vivid Seats by 120.8% in the third quarter. Victory Capital Management Inc. now owns 95,242 shares of the company's stock worth $352,000 after buying an additional 52,111 shares in the last quarter. Hedge funds and other institutional investors own 39.92% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Benchmark reduced their price target on Vivid Seats from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Craig Hallum reduced their price target on Vivid Seats from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, September 10th. DA Davidson reduced their price target on Vivid Seats from $6.50 to $6.00 and set a "buy" rating for the company in a research report on Thursday, September 12th. Royal Bank of Canada reduced their price target on Vivid Seats from $7.00 to $6.00 and set a "sector perform" rating for the company in a research report on Monday, November 11th. Finally, Citigroup dropped their price objective on Vivid Seats from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Vivid Seats currently has an average rating of "Moderate Buy" and an average target price of $6.67.

Vivid Seats Stock Down 1.1 %

Vivid Seats stock traded down $0.04 during midday trading on Tuesday, reaching $3.56. 1,968,117 shares of the stock traded hands, compared to its average volume of 1,399,197. Vivid Seats Inc. has a 12 month low of $3.33 and a 12 month high of $8.80. The stock's fifty day moving average is $3.80 and its 200-day moving average is $4.53. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74.

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.