Pictet Asset Management Holding SA Invests $55,000 in Vivid Seats Inc. (NASDAQ:SEAT)

Pictet Asset Management Holding SA bought a new stake in Vivid Seats Inc. (NASDAQ:SEAT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,958 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Vivid Seats by 35.9% in 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 period. Rhumbline Advisers raised its holdings in Vivid Seats by 64.9% in the fourth quarter. Rhumbline Advisers now owns 166,697 shares of the company’s stock valued at $772,000 after buying an additional 65,620 shares during the period. Emeth Value Capital LLC purchased a new position in Vivid Seats in the fourth quarter valued at approximately $23,250,000. Barclays PLC lifted its position in Vivid Seats by 353.2% during the third quarter. Barclays PLC now owns 125,163 shares of the company’s stock valued at $462,000 after buying an additional 97,546 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Vivid Seats by 18.9% during the third quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after buying an additional 314,482 shares during the period. Institutional investors and hedge funds own 39.92% of the company’s stock.

Vivid Seats Price Performance

Vivid Seats stock opened at $2.83 on Friday. Vivid Seats Inc. has a 52 week low of $2.36 and a 52 week high of $6.09. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average of $3.51 and a 200-day moving average of $3.79.

Wall Street Analysts Forecast Growth

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

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.