Invenomic Capital Management LP Sells 365,543 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Invenomic Capital Management LP decreased its holdings in Vivid Seats Inc. (NASDAQ:SEAT) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,843,716 shares of the company’s stock after selling 365,543 shares during the quarter. Invenomic Capital Management LP owned approximately 0.89% of Vivid Seats worth $6,822,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. bought a new stake in shares of Vivid Seats during the third quarter worth $37,000. Principal Financial Group Inc. bought a new stake in shares of Vivid Seats during the second quarter worth $61,000. Marshall Wace LLP bought a new stake in shares of Vivid Seats during the second quarter worth $67,000. Intech Investment Management LLC acquired a new stake in shares of Vivid Seats during the third quarter worth $87,000. Finally, Ashton Thomas Securities LLC grew its stake in shares of Vivid Seats by 83.6% during the third quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock worth $95,000 after purchasing an additional 11,655 shares during the period. Institutional investors own 39.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson decreased their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Benchmark decreased their target price on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada decreased their target price on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. Piper Sandler reissued a “neutral” rating and issued a $4.00 target price (down from $5.00) on shares of Vivid Seats in a research note on Friday, November 8th. Finally, Canaccord Genuity Group decreased their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Vivid Seats has an average rating of “Moderate Buy” and an average target price of $6.67.

Vivid Seats Trading Down 3.6 %

Shares of SEAT stock opened at $3.45 on Tuesday. The stock’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $4.46. Vivid Seats Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $8.76. 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 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.