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Riva Bakal, the Chief Strategy Officer of Vivid Seats Inc. (NASDAQ:SEAT), recently executed a series of stock transactions, as disclosed in a recent SEC filing. These transactions come at a time when the stock has declined 31% in the past week, trading near $2.81. On March 13, Bakal sold 3,188 shares of Class A Common Stock at a weighted average price of $2.83 per share, totaling approximately $9,022. This sale was part of a mandatory "sell to cover" provision to satisfy tax obligations linked to the vesting of restricted stock units (RSUs).
In addition to the sale, Bakal acquired a significant number of shares through the vesting of RSUs on March 11. The transactions involved the acquisition of 214,229 shares of Class A Common Stock, with no cash exchanged, as the RSUs converted to shares at no cost. According to InvestingPro analysis, the stock appears undervalued at current levels, while management has been actively buying back shares.
Following these transactions, Bakal’s direct ownership stands at 262,783 shares. The transactions reflect a combination of strategic financial planning and compliance with existing RSU agreements. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro offers detailed research reports covering 1,400+ US stocks, including Vivid Seats.
In other recent news, Vivid Seats Inc. reported mixed results for its fourth-quarter 2024 earnings. While revenue and EBITDA exceeded expectations, government orders did not meet forecasts, leading to varied analyst reactions. RBC Capital Markets reduced its price target for Vivid Seats from $6.00 to $4.00, maintaining a Sector Perform rating, citing increased competition and the need for higher marketing expenditures. DA Davidson also lowered its price target to $3.50 from $5.00 but maintained a Buy rating, expressing optimism about the strong live events calendar for 2025. Benchmark adjusted its price target to $6.00 from $8.00, while keeping a Buy rating, noting the company’s resilience in the entertainment and sports sectors despite challenging market conditions.
Morgan Stanley (NYSE:MS) revised its price target to $3.75 from $4.60, maintaining an Equalweight rating, and highlighted the intense competition within the secondary ticketing market. Raymond (NSE:RYMD) James downgraded Vivid Seats from Outperform to Market Perform, setting a price target of $5.00, acknowledging the company’s strategic focus on margins. Analysts noted that Vivid Seats’ initial 2025 guidance indicates a broad range of potential outcomes, reflecting uncertainties in consumer demand trends. The company anticipates a challenging near-term environment with a potential return to growth in the latter half of 2025. Despite the competitive pressures, Vivid Seats remains a significant player in the secondary ticket market, with its strategic emphasis on maintaining margins.
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