Invenomic Capital Management LP Buys 1,143,870 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Invenomic Capital Management LP raised its stake in Vivid Seats Inc. (NASDAQ:SEAT) by 289.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,539,194 shares of the company’s stock after acquiring an additional 1,143,870 shares during the period. Invenomic Capital Management LP’s holdings in Vivid Seats were worth $9,220,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SEAT. Vanguard Group Inc. boosted its stake in Vivid Seats by 10.4% in the first quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after purchasing an additional 410,243 shares in the last quarter. Boston Partners boosted its stake in Vivid Seats by 118.3% in the fourth quarter. Boston Partners now owns 3,597,970 shares of the company’s stock worth $22,626,000 after purchasing an additional 1,949,891 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Vivid Seats by 10.1% in the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after purchasing an additional 273,734 shares in the last quarter. Anson Funds Management LP boosted its stake 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 worth $16,146,000 after purchasing an additional 1,076,271 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Vivid Seats by 17.6% in the first quarter. Clearbridge Investments LLC now owns 2,012,878 shares of the company’s stock worth $12,057,000 after purchasing an additional 301,623 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors.

Vivid Seats Stock Down 1.6 %

Shares of SEAT traded down $0.08 during trading hours on Tuesday, hitting $4.90. 1,178,982 shares of the stock traded hands, compared to its average volume of 1,404,094. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 1.89. Vivid Seats Inc. has a 1-year low of $4.70 and a 1-year high of $8.80. The business has a fifty day moving average of $5.27 and a 200-day moving average of $5.57.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Vivid Seats had a net margin of 9.21% and a negative return on equity of 170.34%. The company had revenue of $190.85 million during the quarter, compared to analyst estimates of $181.56 million. Equities research analysts expect that Vivid Seats Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Canaccord Genuity Group reduced their price objective on Vivid Seats from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Benchmark reissued a “buy” rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Tuesday. Maxim Group upped their price target on Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, DA Davidson reaffirmed a “buy” rating and set a $7.00 price target on shares of Vivid Seats in a research note on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.85.

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.