Bank of New York Mellon Corp Lowers Position in Vivid Seats Inc. (NASDAQ:SEAT)

Bank of New York Mellon Corp trimmed its position in Vivid Seats Inc. (NASDAQ:SEAT) by 33.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,362 shares of the company’s stock after selling 87,893 shares during the period. Bank of New York Mellon Corp’s holdings in Vivid Seats were worth $798,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SEAT. Stratos Wealth Partners LTD. purchased a new position in Vivid Seats during the fourth quarter valued at $46,000. Stoneridge Investment Partners LLC bought a new stake in Vivid Seats during the fourth quarter worth about $53,000. Intech Investment Management LLC bought a new stake in Vivid Seats during the third quarter worth about $87,000. Plan Group Financial LLC grew its holdings in Vivid Seats by 9.4% in the fourth quarter. Plan Group Financial LLC now owns 35,330 shares of the company’s stock worth $164,000 after purchasing an additional 3,048 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Vivid Seats by 8.5% during the fourth quarter. SG Americas Securities LLC now owns 37,065 shares of the company’s stock valued at $172,000 after purchasing an additional 2,909 shares in the last quarter. Institutional investors own 39.92% of the company’s stock.

Analysts Set New Price Targets

SEAT has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada dropped their target price on Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Bank of America reissued an “underperform” rating and issued a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Benchmark lowered their price target on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Raymond James lowered shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vivid Seats presently has an average rating of “Hold” and a consensus price target of $5.49.

Vivid Seats Price Performance

SEAT opened at $2.86 on Wednesday. Vivid Seats Inc. has a twelve month low of $2.51 and a twelve month high of $6.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a 50 day moving average price of $4.05 and a 200-day moving average price of $3.92.

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.