Intech Investment Management LLC Makes New Investment in Vivid Seats Inc. (NASDAQ:SEAT)

Intech Investment Management LLC purchased a new stake in shares of Vivid Seats Inc. (NASDAQ:SEAT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,468 shares of the company’s stock, valued at approximately $87,000.

Several other institutional investors have also recently made changes to their positions in SEAT. Vanguard Group Inc. increased its stake in shares of Vivid Seats by 10.4% in 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 in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Vivid Seats in the first quarter worth about $128,000. California State Teachers Retirement System lifted its position in shares of Vivid Seats by 19.8% during the 1st quarter. California State Teachers Retirement System now owns 67,612 shares of the company’s stock valued at $405,000 after buying an additional 11,188 shares in the last quarter. Bank of New York Mellon Corp lifted 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 buying an additional 37,671 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Vivid Seats during the 2nd quarter valued at approximately $61,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Up 3.7 %

NASDAQ SEAT opened at $3.38 on Monday. Vivid Seats Inc. has a 52 week low of $3.24 and a 52 week high of $7.18. The firm has a market capitalization of $702.16 million, a price-to-earnings ratio of 6.11, a PEG ratio of 15.30 and a beta of 1.11. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average of $3.74 and a two-hundred day moving average of $4.41.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Piper Sandler reissued a “neutral” rating and set a $4.00 price target (down from $5.00) on shares of Vivid Seats in a report on Friday, November 8th. Canaccord Genuity Group lowered their price objective on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Maxim Group cut their target price on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Craig Hallum cut their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.67.

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.