Massachusetts Financial Services Co. MA Has $19.32 Million Stake in Vivid Seats Inc. (NASDAQ:SEAT)

Massachusetts Financial Services Co. MA lowered its position in Vivid Seats Inc. (NASDAQ:SEAT) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,172,283 shares of the company’s stock after selling 323,880 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Vivid Seats were worth $19,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEAT. Charles Schwab Investment Management Inc. increased its stake in shares of Vivid Seats by 35.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,894 shares of the company’s stock worth $2,723,000 after purchasing an additional 194,561 shares during the last quarter. Rhumbline Advisers increased its position in Vivid Seats by 64.9% during the fourth quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock worth $772,000 after buying an additional 65,620 shares during the last quarter. Emeth Value Capital LLC acquired a new position in Vivid Seats during the fourth quarter worth $23,250,000. Covalent Partners LLC raised its holdings in Vivid Seats by 66.7% during the third quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock valued at $1,388,000 after buying an additional 150,000 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Vivid Seats by 353.2% in the third quarter. Barclays PLC now owns 125,163 shares of the company’s stock worth $462,000 after buying an additional 97,546 shares during the last quarter. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Performance

NASDAQ:SEAT opened at $2.57 on Monday. The firm’s 50-day moving average is $3.76 and its 200-day moving average is $3.85. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 0.79. Vivid Seats Inc. has a 52-week low of $2.51 and a 52-week high of $6.09.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Benchmark cut their price objective on Vivid Seats from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley dropped their price target on shares of 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. Raymond James cut shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. Canaccord Genuity Group lowered their target price on shares of Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Royal Bank of Canada cut their target price on shares of Vivid Seats from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.49.

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.