Clearbridge Investments LLC Cuts Stake in Vivid Seats Inc. (NASDAQ:SEAT)

Clearbridge Investments LLC cut its stake in Vivid Seats Inc. (NASDAQ:SEAT) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,120,443 shares of the company’s stock after selling 22,716 shares during the quarter. Clearbridge Investments LLC owned approximately 1.02% of Vivid Seats worth $9,818,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Emeth Value Capital LLC acquired a new stake in shares of Vivid Seats in the fourth quarter worth approximately $23,250,000. Geode Capital Management LLC lifted its holdings in Vivid Seats by 18.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock valued at $7,309,000 after purchasing an additional 314,482 shares in the last quarter. FMR LLC boosted its stake in Vivid Seats by 3.4% during the 3rd quarter. FMR LLC now owns 5,970,058 shares of the company’s stock worth $22,089,000 after purchasing an additional 195,625 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Vivid Seats by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after buying an additional 194,561 shares in the last quarter. Finally, Covalent Partners LLC raised its position in shares of Vivid Seats by 66.7% in the third quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after buying an additional 150,000 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

Vivid Seats Price Performance

Shares of SEAT stock opened at $3.06 on Thursday. Vivid Seats Inc. has a one year low of $2.51 and a one year high of $6.09. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. The firm’s 50 day moving average price is $3.84 and its 200-day moving average price is $3.87.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James cut shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $2.60 price target (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Royal Bank of Canada reduced their price objective on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 13th. Benchmark cut their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley lowered their price target on shares of Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Vivid Seats currently has an average 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.