Acadian Asset Management LLC Raises Stake in Eventbrite, Inc. $EB

Acadian Asset Management LLC increased its stake in Eventbrite, Inc. (NYSE:EB) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,013,966 shares of the company’s stock after purchasing an additional 18,150 shares during the quarter. Acadian Asset Management LLC owned 3.19% of Eventbrite worth $7,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EB. AQR Capital Management LLC boosted its holdings in Eventbrite by 102.0% during the first quarter. AQR Capital Management LLC now owns 2,202,617 shares of the company’s stock worth $4,648,000 after buying an additional 1,112,310 shares in the last quarter. Palogic Value Management L.P. boosted its stake in shares of Eventbrite by 87.7% during the 1st quarter. Palogic Value Management L.P. now owns 1,125,987 shares of the company’s stock worth $2,376,000 after acquiring an additional 525,987 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in shares of Eventbrite by 7.6% in the 1st quarter. Nantahala Capital Management LLC now owns 6,381,395 shares of the company’s stock worth $13,465,000 after acquiring an additional 450,448 shares during the period. Royal Bank of Canada increased its stake in Eventbrite by 3,304.7% in the 1st quarter. Royal Bank of Canada now owns 422,353 shares of the company’s stock valued at $891,000 after purchasing an additional 409,948 shares in the last quarter. Finally, MYDA Advisors LLC purchased a new position in Eventbrite in the 1st quarter valued at approximately $549,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on EB shares. Morgan Stanley set a $2.70 target price on Eventbrite in a research report on Sunday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eventbrite in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Eventbrite currently has a consensus rating of “Hold” and an average price target of $4.40.

Eventbrite Stock Up 5.3%

EB opened at $2.87 on Thursday. The firm has a market cap of $276.47 million, a P/E ratio of -23.87 and a beta of 2.04. The business’s fifty day simple moving average is $2.55 and its 200 day simple moving average is $2.50. Eventbrite, Inc. has a 52 week low of $1.80 and a 52 week high of $4.12. The company has a quick ratio of 1.51, a current ratio of 1.12 and a debt-to-equity ratio of 0.29.

Eventbrite Company Profile

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.