Harbor Capital Advisors Inc. Acquires 1,680,327 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Harbor Capital Advisors Inc. boosted its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 180.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,613,619 shares of the company’s stock after purchasing an additional 1,680,327 shares during the period. Harbor Capital Advisors Inc. owned about 1.26% of Vivid Seats worth $9,670,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SEAT. Invenomic Capital Management LP boosted its stake in shares of Vivid Seats by 289.4% in the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after purchasing an additional 1,143,870 shares in the last quarter. Anson Funds Management LP boosted its position in Vivid Seats by 66.5% in the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after buying an additional 1,076,271 shares in the last quarter. First Sabrepoint Capital Management LP bought a new stake in Vivid Seats during the first quarter worth about $5,690,000. Vanguard Group Inc. increased its holdings 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 in the last quarter. Finally, Clearline Capital LP raised its stake in shares of Vivid Seats by 105.6% in the second quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock valued at $4,432,000 after acquiring an additional 395,942 shares during the last quarter. 39.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SEAT has been the topic of a number of research analyst reports. Canaccord Genuity Group decreased their price target on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Craig Hallum reduced their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. DA Davidson lowered their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Citigroup dropped their target price on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Vivid Seats presently has an average rating of “Moderate Buy” and a consensus target price of $7.28.

Vivid Seats Stock Up 1.5 %

Shares of NASDAQ SEAT opened at $4.13 on Friday. Vivid Seats Inc. has a 1 year low of $3.36 and a 1 year high of $8.80. The firm’s 50-day moving average is $4.04 and its 200-day moving average is $4.75. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $859.37 million, a PE ratio of 7.40, a price-to-earnings-growth ratio of 16.55 and a beta of 1.18.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The business had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same period in the previous year, the business posted $0.20 earnings per share. Equities analysts expect that Vivid Seats Inc. will post 0.14 EPS for the current year.

Vivid Seats Company 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.