Penserra Capital Management LLC Trims Holdings in Vivid Seats Inc. (NASDAQ:SEAT)

Penserra Capital Management LLC reduced its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 18.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 647,558 shares of the company’s stock after selling 149,436 shares during the period. Penserra Capital Management LLC’s holdings in Vivid Seats were worth $2,395,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Vivid Seats by 10.4% during the first quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after buying an additional 410,243 shares during the period. American International Group Inc. lifted its position in Vivid Seats by 203.2% during the 1st quarter. American International Group Inc. now owns 36,810 shares of the company’s stock worth $220,000 after acquiring an additional 24,671 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Vivid Seats in the 1st quarter valued at approximately $128,000. Janus Henderson Group PLC increased its holdings in shares of Vivid Seats by 10.1% in the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock valued at $17,849,000 after purchasing an additional 273,734 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Vivid Seats by 19.8% during the first quarter. California State Teachers Retirement System now owns 67,612 shares of the company’s stock worth $405,000 after purchasing an additional 11,188 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Benchmark lowered their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Citigroup dropped their price target on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Piper Sandler restated a “neutral” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Vivid Seats in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their target price on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, Maxim Group decreased their price target on Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Vivid Seats Stock Up 2.3 %

Shares of SEAT stock opened at $3.60 on Tuesday. The stock has a fifty day moving average price of $3.81 and a 200 day moving average price of $4.54. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. Vivid Seats Inc. has a 1 year low of $3.33 and a 1 year high of $8.80.

Vivid Seats 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.