Gabelli Funds LLC Buys New Shares in Venture Global, Inc. $VG

Key Points

• Gabelli Funds LLC has invested approximately $2.67 million in Venture Global, Inc., acquiring 259,500 shares in the first quarter.
• Several institutional investors, including Allianz Asset Management and Vanguard Group, have also recently increased their stakes in Venture Global, showing strong interest in the company.
• Analysts have predominantly upgraded Venture Global's stock rating, with nine analysts giving it a "Buy" rating and the average target price set at $17.00.

Gabelli Funds LLC acquired a new stake in Venture Global, Inc. (NYSE:VG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 259,500 shares of the company's stock, valued at approximately $2,673,000.

A number of other large investors have also bought and sold shares of the company. Renaissance Capital LLC bought a new stake in shares of Venture Global in the first quarter valued at $1,439,000. Defined Wealth Management LLC bought a new stake in Venture Global in the 1st quarter valued at about $114,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Venture Global during the first quarter valued at about $156,000. Exchange Traded Concepts LLC bought a new position in Venture Global during the first quarter worth about $1,316,000. Finally, Forefront Wealth Management Inc. purchased a new position in shares of Venture Global in the first quarter worth about $938,000.

Analyst Ratings Changes

VG has been the subject of a number of recent research reports. Bank of America lifted their price objective on shares of Venture Global from $12.00 to $18.50 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded Venture Global from a "sell" rating to a "hold" rating in a research note on Saturday, June 28th. Wells Fargo & Company raised their target price on Venture Global from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. UBS Group raised Venture Global from a "neutral" rating to a "buy" rating and set a $18.00 target price for the company in a report on Monday, August 25th. Finally, Scotiabank increased their price target on shares of Venture Global from $13.00 to $16.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Venture Global Price Performance

Shares of NYSE VG traded down $0.26 during midday trading on Wednesday, hitting $12.74. 3,096,316 shares of the company's stock were exchanged, compared to its average volume of 7,096,244. The company has a quick ratio of 1.33, a current ratio of 1.39 and a debt-to-equity ratio of 3.38. The business's fifty day moving average price is $14.57 and its two-hundred day moving average price is $12.65. Venture Global, Inc. has a 12-month low of $6.75 and a 12-month high of $25.50.

Venture Global Profile

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.