Two Sigma Investments LP Cuts Holdings in Vivid Seats Inc. (NASDAQ:SEAT)

Two Sigma Investments LP cut its position in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 42.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,646 shares of the company’s stock after selling 64,662 shares during the quarter. Two Sigma Investments LP’s holdings in Vivid Seats were worth $410,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. bought a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $46,000. Quinn Opportunity Partners LLC purchased a new stake in shares of Vivid Seats in the 4th quarter valued at $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Vivid Seats in the 4th quarter valued at $53,000. Pictet Asset Management Holding SA bought a new stake in Vivid Seats during the 4th quarter valued at $55,000. Finally, Penn Capital Management Company LLC bought a new stake in Vivid Seats during the 4th quarter valued at $56,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Trading Up 5.2%

Vivid Seats stock opened at $1.81 on Tuesday. 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 1 year low of $1.44 and a 1 year high of $5.90. The firm’s 50 day moving average price is $2.22 and its 200-day moving average price is $3.31.

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 net margin of 4.56% and a return on equity of 21.29%. The business had revenue of $164.02 million during the quarter, compared to analysts’ expectations of $169.99 million. As a group, equities research analysts anticipate that Vivid Seats Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on SEAT shares. William Blair lowered shares of Vivid Seats from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 6th. Morgan Stanley cut their price objective 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. Bank of America reaffirmed 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. Maxim Group dropped their price target on shares of Vivid Seats from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Benchmark lowered their price objective on shares of Vivid Seats from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.49.

Insiders Place Their Bets

In other news, General Counsel Emily T. Epstein sold 14,476 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1.99, for a total transaction of $28,807.24. Following the completion of the sale, the general counsel now directly owns 151,194 shares of the company’s stock, valued at approximately $300,876.06. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 16,138 shares of company stock valued at $33,201 over the last three months. 57.20% of the stock is owned by company insiders.

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.