Venu (NYSEAMERICAN:VENU) Shares Gap Down – Here’s What Happened

Shares of Venu Holding Corporation (NYSEAMERICAN:VENU) gapped down prior to trading on Monday . The stock had previously closed at $17.93, but opened at $15.25. Venu shares last traded at $14.49, with a volume of 91,705 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VENU. Northland Securities began coverage on shares of Venu in a research note on Wednesday, June 11th. They issued an “outperform” rating and a $15.00 target price on the stock. Northland Capmk upgraded shares of Venu to a “strong-buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy” and an average price target of $15.00.

Venu Stock Performance

The business has a 50-day moving average price of $13.68 and a 200-day moving average price of $10.66. The company has a quick ratio of 2.71, a current ratio of 2.72 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $630.45 million and a price-to-earnings ratio of -13.14.

Insider Buying and Selling at Venu

In other news, CEO Jay W. Roth sold 3,055 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $12.20, for a total transaction of $37,271.00. Following the completion of the sale, the chief executive officer owned 9,244,644 shares in the company, valued at approximately $112,784,656.80. This represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Lavigne sold 2,390 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $11.32, for a total value of $27,054.80. Following the sale, the director owned 163,474 shares of the company’s stock, valued at approximately $1,850,525.68. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,736 shares of company stock valued at $1,613,691.

Institutional Trading of Venu

Several hedge funds and other institutional investors have recently made changes to their positions in VENU. Bleichroeder LP purchased a new position in shares of Venu in the fourth quarter worth $183,000. Focus Partners Wealth purchased a new position in shares of Venu in the fourth quarter worth $589,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Venu in the fourth quarter worth $244,000. Pallas Capital Advisors LLC purchased a new position in shares of Venu in the first quarter worth $193,000. Finally, Willis Investment Counsel purchased a new position in shares of Venu in the first quarter worth $299,000.

Venu Company Profile

Venu Holding Corporation is a premier hospitality and live music company dedicated to crafting luxury, experience-driven entertainment destinations. Venu Holding Corporation is based in COLORADO SPRINGS, Colo.