Victory Capital Management Inc. Lowers Stock Position in Vivid Seats Inc. (NASDAQ:SEAT)

Victory Capital Management Inc. cut its position in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 28.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,131 shares of the company’s stock after selling 16,734 shares during the quarter. Victory Capital Management Inc.’s holdings in Vivid Seats were worth $248,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Vivid Seats by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after buying an additional 7,961 shares during the last quarter. Principal Financial Group Inc. bought a new position in Vivid Seats in the 2nd quarter valued at $61,000. Bank of New York Mellon Corp increased its position in shares of Vivid Seats by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 327,175 shares of the company’s stock valued at $1,881,000 after purchasing an additional 37,671 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Vivid Seats by 618.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 933,292 shares of the company’s stock worth $5,366,000 after purchasing an additional 803,300 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Vivid Seats by 259.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock worth $124,000 after buying an additional 14,927 shares during the last quarter. 39.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SEAT shares. DA Davidson decreased their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Canaccord Genuity Group dropped their price objective on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Citigroup decreased their target price on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday. Finally, 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 report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Vivid Seats has a consensus rating of “Moderate Buy” and an average price target of $7.28.

Vivid Seats Stock Down 2.2 %

Shares of NASDAQ SEAT opened at $3.61 on Tuesday. The business has a 50-day simple moving average of $4.48 and a two-hundred day simple moving average of $5.13. Vivid Seats Inc. has a 52 week low of $3.58 and a 52 week high of $8.80. The company has a market cap of $749.62 million, a P/E ratio of 7.60, a P/E/G ratio of 15.64 and a beta of 1.22. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The firm had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. During the same period in the prior year, the firm posted $0.20 EPS. Research analysts anticipate that Vivid Seats Inc. will post 0.14 earnings per share for the current fiscal year.

About Vivid Seats

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.