Bank of New York Mellon Corp Lowers Stock Position in Vivid Seats Inc. (NASDAQ:SEAT)

Bank of New York Mellon Corp cut its stake in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 33.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,362 shares of the company’s stock after selling 87,893 shares during the quarter. Bank of New York Mellon Corp owned 0.08% of Vivid Seats worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its position in Vivid Seats by 3.4% in the third quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after acquiring an additional 195,625 shares in the last quarter. Emeth Value Capital LLC bought a new stake in Vivid Seats during the fourth quarter worth about $23,250,000. Massachusetts Financial Services Co. MA lifted its stake in Vivid Seats by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock worth $16,636,000 after purchasing an additional 125,035 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Vivid Seats by 18.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after purchasing an additional 314,482 shares in the last quarter. Finally, State Street Corp increased its position in shares of Vivid Seats by 3.5% during the 3rd quarter. State Street Corp now owns 1,486,894 shares of the company’s stock valued at $5,502,000 after purchasing an additional 49,870 shares during the last quarter. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Price Performance

Shares of SEAT stock opened at $2.86 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. Vivid Seats Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $6.09. The business’s 50 day moving average price is $4.05 and its 200-day moving average price is $3.92.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SEAT shares. Canaccord Genuity Group cut their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Benchmark cut their price objective on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Raymond James cut shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research report on Thursday, March 13th. 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 research report on Thursday, March 13th. Finally, Bank of America reiterated an “underperform” rating and issued a $2.60 price objective (down previously from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Vivid Seats has a consensus rating of “Hold” and an average price target of $5.49.

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.