The Manufacturers Life Insurance Company Has $178,000 Position in Vivid Seats Inc. (NASDAQ:SEAT)

The Manufacturers Life Insurance Company lifted its stake in Vivid Seats Inc. (NASDAQ:SEAT) by 57.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,898 shares of the company’s stock after acquiring an additional 11,274 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Vivid Seats were worth $178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SEAT. Invenomic Capital Management LP raised its stake in shares of Vivid Seats by 289.4% during the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock worth $9,220,000 after purchasing an additional 1,143,870 shares in the last quarter. Anson Funds Management LP raised its position in Vivid Seats by 66.5% during the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after acquiring an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new stake in Vivid Seats in the first quarter valued at approximately $5,690,000. Harbor Capital Advisors Inc. grew its position in Vivid Seats by 618.0% in the second quarter. Harbor Capital Advisors Inc. now owns 933,292 shares of the company’s stock worth $5,366,000 after acquiring an additional 803,300 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Vivid Seats by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after purchasing an additional 410,243 shares during the last quarter. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SEAT shares. Citigroup reduced their price objective on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Royal Bank of Canada decreased their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. DA Davidson lowered their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reduced their target price on Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Craig Hallum lowered their price target on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.28.

Vivid Seats Stock Up 1.0 %

Shares of SEAT stock opened at $4.14 on Friday. Vivid Seats Inc. has a 12 month low of $3.36 and a 12 month high of $8.80. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48. The firm has a market cap of $859.68 million, a PE ratio of 7.31, a price-to-earnings-growth ratio of 14.98 and a beta of 1.21. The stock has a 50 day moving average of $4.09 and a 200-day moving average of $4.87.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The company had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same period last year, the company earned $0.20 earnings per share. On average, equities analysts predict that Vivid Seats Inc. will post 0.14 EPS for the current 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.