Vivid Seats Inc. (NASDAQ:SEAT) Shares Sold by Covalent Partners LLC

Covalent Partners LLC lowered its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 20.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 300,000 shares of the company’s stock after selling 75,000 shares during the period. Vivid Seats makes up approximately 5.1% of Covalent Partners LLC’s holdings, making the stock its 6th largest holding. Covalent Partners LLC’s holdings in Vivid Seats were worth $1,389,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Captrust Financial Advisors grew its stake in Vivid Seats by 47.4% in the 4th quarter. Captrust Financial Advisors now owns 216,872 shares of the company’s stock valued at $1,004,000 after acquiring an additional 69,715 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Vivid Seats during the 4th quarter worth about $53,000. Ameriprise Financial Inc. lifted its stake in Vivid Seats by 18.4% in the 4th quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock valued at $9,051,000 after buying an additional 303,878 shares in the last quarter. Manatuck Hill Partners LLC acquired a new stake in Vivid Seats in the 4th quarter worth about $1,158,000. Finally, Visualize Group LP purchased a new stake in Vivid Seats during the 4th quarter worth approximately $3,327,000. 39.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SEAT. Canaccord Genuity Group dropped their price target on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Benchmark cut their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Bank of America reissued an “underperform” rating and set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Raymond James cut shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. Finally, Morgan Stanley reduced their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vivid Seats presently has a consensus rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Price Performance

Shares of Vivid Seats stock opened at $2.79 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The business has a 50-day moving average of $2.97 and a 200 day moving average of $3.67. Vivid Seats Inc. has a 12 month low of $2.15 and a 12 month high of $6.09.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.12). Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. Equities analysts anticipate that Vivid Seats Inc. will post 0.12 earnings per share for the current fiscal year.

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.