Los Angeles Capital Management LLC Takes Position in Eventbrite, Inc. $EB

Los Angeles Capital Management LLC purchased a new stake in shares of Eventbrite, Inc. (NYSE:EB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,090 shares of the company’s stock, valued at approximately $87,000.

Other hedge funds have also added to or reduced their stakes in the company. Nantahala Capital Management LLC raised its holdings in Eventbrite by 7.6% during the 1st quarter. Nantahala Capital Management LLC now owns 6,381,395 shares of the company’s stock worth $13,465,000 after purchasing an additional 450,448 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Eventbrite by 102.0% during the 1st quarter. AQR Capital Management LLC now owns 2,202,617 shares of the company’s stock worth $4,648,000 after buying an additional 1,112,310 shares during the period. Palogic Value Management L.P. raised its stake in shares of Eventbrite by 87.7% during the first quarter. Palogic Value Management L.P. now owns 1,125,987 shares of the company’s stock worth $2,376,000 after buying an additional 525,987 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Eventbrite by 10.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781,138 shares of the company’s stock valued at $1,648,000 after buying an additional 72,752 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Eventbrite by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 601,602 shares of the company’s stock valued at $1,269,000 after acquiring an additional 4,260 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Eventbrite Trading Down 1.0%

Shares of NYSE EB opened at $2.61 on Wednesday. Eventbrite, Inc. has a twelve month low of $1.80 and a twelve month high of $4.12. The stock has a market cap of $254.46 million, a price-to-earnings ratio of -21.71 and a beta of 2.04. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average is $2.55 and its 200-day moving average is $2.52.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley set a $2.70 target price on shares of Eventbrite in a research report on Sunday, August 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Eventbrite in a research note on Monday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Eventbrite presently has an average rating of “Hold” and a consensus price target of $4.40.

Eventbrite Company Profile

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.