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

Clearbridge Investments LLC lessened its stake in Vivid Seats Inc. (NASDAQ:SEAT) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,120,443 shares of the company’s stock after selling 22,716 shares during the quarter. Clearbridge Investments LLC’s holdings in Vivid Seats were worth $9,818,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new position in Vivid Seats in the fourth quarter worth approximately $46,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Vivid Seats during the 4th quarter worth $53,000. Pictet Asset Management Holding SA acquired a new position in shares of Vivid Seats during the fourth quarter worth $55,000. KLP Kapitalforvaltning AS purchased a new position in Vivid Seats in the fourth quarter valued at $57,000. Finally, Intech Investment Management LLC acquired a new stake in Vivid Seats in the third quarter valued at $87,000. 39.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Canaccord Genuity Group dropped their price objective on Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. 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 report on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Royal Bank of Canada cut their price target on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 13th. Finally, Benchmark decreased their price objective on shares of Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Stock Up 5.9 %

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

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.