BNP Paribas Financial Markets Takes $53,000 Position in Vivid Seats Inc. (NASDAQ:SEAT)

BNP Paribas Financial Markets bought a new stake in shares of Vivid Seats Inc. (NASDAQ:SEAT) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 11,346 shares of the company’s stock, valued at approximately $53,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Vivid Seats by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company’s stock worth $22,676,000 after acquiring an additional 22,285 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Vivid Seats by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company’s stock worth $9,301,000 after buying an additional 33,181 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Vivid Seats by 18.4% in the fourth quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company’s stock worth $9,051,000 after buying an additional 303,878 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Vivid Seats by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,417 shares of the company’s stock worth $4,669,000 after purchasing an additional 20,198 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Vivid Seats by 6.9% in the fourth quarter. JPMorgan Chase & Co. now owns 892,323 shares of the company’s stock worth $4,131,000 after purchasing an additional 57,513 shares during the period. 39.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SEAT. Bank of America reissued an “underperform” rating and set a $2.60 price target (down previously from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. William Blair cut shares of Vivid Seats from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 6th. Morgan Stanley cut their price objective on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Canaccord Genuity Group dropped their target price on Vivid Seats from $5.00 to $4.00 and set a “buy” rating on the stock in a 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 note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.49.

Insiders Place Their Bets

In related news, General Counsel Emily T. Epstein sold 14,476 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1.99, for a total value of $28,807.24. Following the transaction, the general counsel now owns 151,194 shares in the company, valued at $300,876.06. This trade represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 16,138 shares of company stock worth $33,201 over the last three months. 57.20% of the stock is currently owned by corporate insiders.

Vivid Seats Price Performance

Shares of SEAT stock opened at $1.48 on Tuesday. Vivid Seats Inc. has a 12 month low of $1.46 and a 12 month high of $5.90. The stock has a 50 day moving average of $2.36 and a 200-day moving average of $3.38. 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 issued its earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $169.99 million. Research analysts predict that Vivid Seats Inc. will post 0.12 EPS for the current year.

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.