Connor Clark & Lunn Investment Management Ltd. Buys 20,774 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Vivid Seats Inc. (NASDAQ:SEAT) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 207,056 shares of the company’s stock after purchasing an additional 20,774 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Vivid Seats worth $959,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SEAT. Victory Capital Management Inc. grew its position in Vivid Seats by 120.8% in the third quarter. Victory Capital Management Inc. now owns 95,242 shares of the company’s stock valued at $352,000 after acquiring an additional 52,111 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Vivid Seats in the third quarter valued at about $37,000. Intech Investment Management LLC bought a new position in Vivid Seats in the third quarter valued at about $87,000. Massachusetts Financial Services Co. MA grew its position in Vivid Seats by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,496,163 shares of the company’s stock valued at $16,636,000 after acquiring an additional 125,035 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Vivid Seats by 35.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock valued at $2,723,000 after acquiring an additional 194,561 shares during the last quarter. Institutional investors own 39.92% of the company’s stock.

Wall Street Analyst Weigh In

SEAT has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Bank of America reiterated an “underperform” rating and issued a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Benchmark reduced their price target on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Morgan Stanley reduced their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Raymond James cut Vivid Seats from a “moderate buy” rating to a “hold” rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Price Performance

Vivid Seats stock opened at $3.01 on Friday. Vivid Seats Inc. has a 52-week low of $2.51 and a 52-week high of $6.09. The stock’s 50 day moving average price is $4.15 and its two-hundred day moving average price is $3.97. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79.

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.