Equitable Trust Co. Acquires 22,775 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Equitable Trust Co. lifted its holdings in Vivid Seats Inc. (NASDAQ:SEAT) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,260 shares of the company’s stock after acquiring an additional 22,775 shares during the period. Equitable Trust Co. owned approximately 0.07% of Vivid Seats worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Vivid Seats by 17.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company’s stock worth $136,000 after acquiring an additional 4,288 shares in the last quarter. American Century Companies Inc. raised its position in shares of Vivid Seats by 9.6% in the 4th quarter. American Century Companies Inc. now owns 96,396 shares of the company’s stock worth $446,000 after acquiring an additional 8,450 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in shares of Vivid Seats in the 4th quarter worth about $46,000. Barclays PLC raised its position in shares of Vivid Seats by 8.8% in the 4th quarter. Barclays PLC now owns 136,181 shares of the company’s stock worth $630,000 after acquiring an additional 11,018 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Vivid Seats in the 4th quarter valued at about $53,000. 39.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Vivid Seats

In other news, General Counsel Emily T. Epstein sold 14,476 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1.99, for a total value of $28,807.24. Following the transaction, the general counsel owned 151,194 shares in the company, valued at $300,876.06. The trade was a 8.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 88.46% of the stock is owned by insiders.

Vivid Seats Trading Down 3.4%

SEAT stock opened at $1.70 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 1.01. Vivid Seats Inc. has a 52-week low of $1.44 and a 52-week high of $5.13. The business has a 50-day simple moving average of $1.77 and a two-hundred day simple moving average of $2.85.

Vivid Seats (NASDAQ:SEAT) last announced its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Vivid Seats had a negative return on equity of 2.17% and a negative net margin of 0.35%. The business had revenue of $164.02 million during the quarter, compared to analysts’ expectations of $169.99 million. Equities analysts forecast that Vivid Seats Inc. will post 0.12 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SEAT. Maxim Group decreased their target price on Vivid Seats from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Canaccord Genuity Group decreased their target price on Vivid Seats from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Royal Bank Of Canada decreased their target price on Vivid Seats from $4.00 to $2.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 7th. William Blair lowered Vivid Seats from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 6th. Finally, Benchmark decreased their target price on Vivid Seats from $6.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.49.

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.