Live Seats (NASDAQ:SEAT – Get a rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “Vivid Seats Inc. provides a marketplace that uses its technology platform to connect buyers with ticket sellers. Vivid Seats Inc., formerly known as Horizon Acquisition Corporation, is based in CHICAGO.”
SEAT has been the subject of several other research reports. William Blair began coverage of Vivid Seats in a research note on Tuesday, November 16. They issued an “outperformance” rating on the stock. Evercore ISI began covering Vivid Seats in a report on Tuesday, January 18. They issued a “hold” rating and a price target of $14.00 for the company. Citigroup downgraded Vivid Seats from a “neutral” rating to a “buy” rating and set a price target of $14.00 for the company in a Monday, January 3, report. Raymond James began covering Vivid Seats in a report on Thursday, November 18. They issued an “outperform” rating and a price target of $17.00 for the company. Finally, Credit Suisse Group began covering Vivid Seats in a Monday, January 31 report. They issued an “outperform” rating and a price target of $16.00 for the company. One research analyst rated the stock with a sell rating, one gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, the stock has a consensus buy rating and an average target price of $15.50.
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SEAT shares opened at $10.52 on Friday. Vivid Seats has a 12 month minimum of $7.84 and a 12 month maximum of $14.35. The company’s fifty-day moving average price is $10.54.
In other news, major shareholder Benefit Life Insuranc Security sold 36,507,173 Vivid Seats shares in a trade on Tuesday, December 14. The stock was sold at an average price of $10.00, for a total value of $365,071,730.00. The sale was disclosed in an SEC filing, available at this hyperlink. In the past three months, insiders have sold 36,511,835 shares of the company valued at $365,120,681.
Major investors have recently changed their positions in the company. Wolverine Asset Management LLC acquired a new position in Vivid Seats during Q4 worth approximately $52,000. State Street Corp bought a new stock position in Vivid Seats in the fourth quarter worth about $119,000. Victory Capital Management Inc. bought a new stock position in Vivid Seats in the fourth quarter worth about $120,000. Mirabella Financial Services LLP bought a new stock position in Vivid Seats in the fourth quarter worth approximately $190,000. Finally, Cornerstone Investment Partners LLC bought a new stock position in Vivid Seats in the fourth quarter worth approximately $205,000. 55.24% of the shares are currently held by institutional investors.
About Vivid Seating (Get a rating)
Horizon Acquisition Corporation is a blank check corporation formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or several companies. Although the company may pursue an initial business combination objective in any industry, it currently intends to focus its efforts on identifying companies in the financial services industry, with an emphasis on differentiated financial services and platforms adjacent to financial services.
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