Vivid Seats Inc. (NASDAQ:SEAT) Shares Acquired by Covalent Partners LLC

Covalent Partners LLC raised its stake in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 66.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 375,000 shares of the company’s stock after buying an additional 150,000 shares during the period. Vivid Seats makes up 9.9% of Covalent Partners LLC’s portfolio, making the stock its 5th biggest position. Covalent Partners LLC’s holdings in Vivid Seats were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SEAT. Oppenheimer & Co. Inc. acquired a new stake in shares of Vivid Seats in the third quarter valued at $37,000. Principal Financial Group Inc. acquired a new stake in Vivid Seats in the 2nd quarter valued at about $61,000. Marshall Wace LLP acquired a new stake in Vivid Seats in the 2nd quarter valued at about $67,000. Intech Investment Management LLC bought a new position in shares of Vivid Seats during the 3rd quarter valued at about $87,000. Finally, Ashton Thomas Securities LLC grew 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 worth $95,000 after purchasing an additional 11,655 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SEAT. Maxim Group cut their target price on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 4th. DA Davidson cut their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Canaccord Genuity Group decreased their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Craig Hallum cut their target price on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, Citigroup decreased their price target on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.67.

Vivid Seats Trading Down 0.3 %

Shares of Vivid Seats stock opened at $3.37 on Tuesday. Vivid Seats Inc. has a 12 month low of $3.24 and a 12 month high of $7.17. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $3.73 and a 200-day simple moving average of $4.40.

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.