Harbor Capital Advisors Inc. Purchases 1,680,327 Shares of Vivid Seats Inc. (NASDAQ:SEAT)

Harbor Capital Advisors Inc. boosted its holdings in shares of Vivid Seats Inc. (NASDAQ:SEAT) by 180.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,613,619 shares of the company’s stock after acquiring an additional 1,680,327 shares during the period. Harbor Capital Advisors Inc.’s holdings in Vivid Seats were worth $9,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its position in shares of Vivid Seats by 301.6% during the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after purchasing an additional 5,594 shares during the period. Principal Financial Group Inc. acquired a new stake in Vivid Seats during the 2nd quarter worth approximately $61,000. Marshall Wace LLP bought a new position in Vivid Seats in the second quarter valued at approximately $67,000. Entropy Technologies LP acquired a new position in shares of Vivid Seats in the first quarter valued at approximately $101,000. Finally, Plan Group Financial LLC increased its position in shares of Vivid Seats by 148.0% during the third quarter. Plan Group Financial LLC now owns 32,282 shares of the company’s stock worth $119,000 after acquiring an additional 19,264 shares in the last quarter. 39.92% of the stock is owned by institutional investors and hedge funds.

Vivid Seats Stock Performance

Shares of NASDAQ SEAT opened at $4.13 on Friday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The stock has a 50 day moving average price of $4.04 and a 200 day moving average price of $4.75. The stock has a market capitalization of $859.37 million, a PE ratio of 7.40, a price-to-earnings-growth ratio of 16.55 and a beta of 1.18. Vivid Seats Inc. has a 52 week low of $3.36 and a 52 week high of $8.80.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The company had revenue of $198.32 million during the quarter, compared to analyst estimates of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same period in the previous year, the company posted $0.20 EPS. Analysts predict that Vivid Seats Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on SEAT shares. Citigroup cut their price objective on shares of Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada cut their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a report on Monday, August 12th. DA Davidson cut their target price on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, Canaccord Genuity Group decreased their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.28.

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.