Prospect Capital Advisors LLC Trims Position in Vivid Seats Inc. (NASDAQ:SEAT)

Prospect Capital Advisors LLC trimmed its holdings in Vivid Seats Inc. (NASDAQ:SEAT) by 52.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 800,000 shares of the company’s stock after selling 880,000 shares during the quarter. Vivid Seats comprises 2.1% of Prospect Capital Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Prospect Capital Advisors LLC’s holdings in Vivid Seats were worth $3,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SEAT. Emeth Value Capital LLC purchased a new position in Vivid Seats during the fourth quarter worth about $23,250,000. Huber Capital Management LLC purchased a new position in Vivid Seats during the fourth quarter worth about $3,627,000. Visualize Group LP purchased a new position in Vivid Seats during the fourth quarter worth about $3,327,000. Ameriprise Financial Inc. raised its holdings in Vivid Seats by 18.4% during the fourth quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock worth $9,051,000 after purchasing an additional 303,878 shares in the last quarter. Finally, Manatuck Hill Partners LLC purchased a new position in Vivid Seats during the fourth quarter worth about $1,158,000. 39.92% of the stock is owned by hedge funds and other institutional investors.

Vivid Seats Price Performance

SEAT stock opened at $2.23 on Thursday. Vivid Seats Inc. has a 52 week low of $1.66 and a 52 week high of $5.90. The firm’s 50-day moving average is $2.66 and its two-hundred day moving average is $3.58. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. The company had revenue of $164.02 million for the quarter, compared to the consensus estimate of $169.99 million. Equities research analysts expect that Vivid Seats Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SEAT shares. Morgan Stanley cut their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Maxim Group dropped their target price on shares of Vivid Seats from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Canaccord Genuity Group dropped their target price on shares of Vivid Seats from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Bank of America reiterated an “underperform” rating and issued a $2.60 price target (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Finally, Benchmark lowered their price target on shares of Vivid Seats from $6.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Vivid Seats presently has a consensus rating of “Hold” and a consensus target price of $4.49.

Insider Transactions at Vivid Seats

In other news, General Counsel Emily T. Epstein sold 14,476 shares of Vivid Seats stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1.99, for a total value of $28,807.24. Following the transaction, the general counsel now directly owns 151,194 shares of the company’s stock, valued at $300,876.06. This trade represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 16,138 shares of company stock valued at $33,201 over the last ninety days. Corporate insiders own 57.20% of the company’s stock.

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.