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

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in Vivid Seats during the 3rd quarter worth about $37,000. Principal Financial Group Inc. acquired a new position in shares of Vivid Seats in the 2nd quarter valued at about $61,000. Marshall Wace LLP acquired a new position in shares of Vivid Seats in the 2nd quarter valued at about $67,000. Intech Investment Management LLC acquired a new position in shares of Vivid Seats in the 3rd quarter valued at about $87,000. Finally, Ashton Thomas Securities LLC lifted its stake in shares of Vivid Seats by 83.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock valued at $95,000 after purchasing an additional 11,655 shares during the period. 39.92% of the stock is owned by institutional investors and hedge funds.

Vivid Seats Stock Down 3.6 %

Vivid Seats stock opened at $3.45 on Tuesday. 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 firm has a 50-day moving average of $3.76 and a 200-day moving average of $4.46. Vivid Seats Inc. has a 1-year low of $3.33 and a 1-year high of $8.76.

Analyst Ratings Changes

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Maxim Group decreased their price objective on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 4th. Craig Hallum decreased their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Canaccord Genuity Group decreased their price objective on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Royal Bank of Canada decreased their price objective on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

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.