Ameriprise Financial Inc. Buys 303,878 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Ameriprise Financial Inc. increased its stake in Vivid Seats Inc. (NASDAQ:SEAT) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,954,794 shares of the company’s stock after acquiring an additional 303,878 shares during the period. Ameriprise Financial Inc. owned about 0.94% of Vivid Seats worth $9,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. bought a new stake in shares of Vivid Seats in the 4th quarter valued at about $46,000. Quinn Opportunity Partners LLC bought a new stake in shares of Vivid Seats in the 4th quarter valued at about $46,000. Stoneridge Investment Partners LLC bought a new stake in shares of Vivid Seats in the 4th quarter valued at about $53,000. Pictet Asset Management Holding SA bought a new stake in shares of Vivid Seats in the 4th quarter valued at about $55,000. Finally, Penn Capital Management Company LLC bought a new position in Vivid Seats during the 4th quarter valued at approximately $56,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Trading Up 2.6%

SEAT stock opened at $1.97 on Wednesday. Vivid Seats Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $5.90. The business’s 50 day moving average price is $2.55 and its two-hundred day moving average price is $3.51. 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 (NASDAQ:SEAT) last posted its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. The firm had revenue of $164.02 million for the quarter, compared to analysts’ expectations of $169.99 million. Sell-side analysts forecast that Vivid Seats Inc. will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SEAT. Morgan Stanley lowered their price target on 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. William Blair lowered Vivid Seats from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 6th. Canaccord Genuity Group lowered their price target on Vivid Seats from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada lowered their price target on Vivid Seats from $4.00 to $2.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 7th. Finally, Benchmark lowered their price target on Vivid Seats from $6.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.49.

Insider Buying and Selling

In related news, General Counsel Emily T. Epstein sold 14,476 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1.99, for a total value of $28,807.24. Following the sale, the general counsel now owns 151,194 shares in the company, valued at $300,876.06. This represents a 8.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 16,138 shares of company stock worth $33,201 in the last 90 days. Insiders own 57.20% of the company’s stock.

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.