Teacher Retirement System of Texas Makes New $312,000 Investment in Vivid Seats Inc. (NASDAQ:SEAT)

Teacher Retirement System of Texas bought a new stake in Vivid Seats Inc. (NASDAQ:SEAT) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 67,489 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Vivid Seats by 11.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 207,056 shares of the company’s stock valued at $959,000 after acquiring an additional 20,774 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vivid Seats by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company’s stock valued at $3,434,000 after purchasing an additional 5,828 shares in the last quarter. Impact Investors Inc acquired a new stake in shares of Vivid Seats in the fourth quarter valued at approximately $167,000. Plan Group Financial LLC increased its stake in shares of Vivid Seats by 9.4% during the 4th 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 in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Vivid Seats by 64.9% during the 4th quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock worth $772,000 after purchasing an additional 65,620 shares in the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Down 2.4 %

Shares of NASDAQ:SEAT opened at $2.89 on Wednesday. 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 stock’s 50-day moving average price is $3.87 and its two-hundred day moving average price is $3.87. Vivid Seats Inc. has a 12-month low of $2.51 and a 12-month high of $6.09.

Analyst Upgrades and Downgrades

SEAT has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their target price on Vivid Seats from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $2.60 price objective (down from $6.25) on shares of Vivid Seats in a research report on Thursday, March 13th. Royal Bank of Canada dropped their price objective on 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. Morgan Stanley reduced their target price on shares of 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 shares of Vivid Seats from a “moderate buy” rating to a “hold” rating in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.49.

Vivid Seats Company 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.