Gabelli Funds LLC Lowers Position in Venu Holding Corporation $VENU

Key Points

• Gabelli Funds LLC reduced its holdings in Venu Holding Corporation by 73.6%, selling 47,500 shares, and now owns 17,000 shares valued at $157,000.
• Analysts have a consensus rating of "Strong Buy" for Venu, with an average target price of $15.00.
• Insiders, including Director David Lavigne and CEO Jay W. Roth, have sold a total of 127,736 shares worth approximately $1.61 million in recent months.

Gabelli Funds LLC cut its holdings in Venu Holding Corporation (NYSEAMERICAN:VENU - Free Report) by 73.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,000 shares of the company's stock after selling 47,500 shares during the quarter. Gabelli Funds LLC's holdings in Venu were worth $157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Venu in the first quarter worth $92,000. Cypress Capital Management LLC WY acquired a new stake in shares of Venu in the 1st quarter valued at approximately $104,000. North Capital Inc. acquired a new stake in shares of Venu in the 1st quarter valued at approximately $112,000. Exchange Traded Concepts LLC acquired a new stake in shares of Venu in the 1st quarter valued at approximately $171,000. Finally, Bleichroeder LP acquired a new stake in shares of Venu in the 4th quarter valued at approximately $183,000.

Venu Stock Performance

Shares of NYSEAMERICAN VENU traded down $0.29 during trading on Thursday, reaching $11.98. 92,808 shares of the stock traded hands, compared to its average volume of 61,389. Venu Holding Corporation has a 52-week low of $7.05 and a 52-week high of $18.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.72 and a quick ratio of 2.71. The company has a 50-day moving average of $13.72 and a 200-day moving average of $10.83. The stock has a market capitalization of $482.91 million and a P/E ratio of -10.07.

Analyst Ratings Changes

Several research firms have recently commented on VENU. Northland Capmk raised Venu to a "strong-buy" rating in a report on Wednesday, June 11th. Northland Securities began coverage on Venu in a report on Wednesday, June 11th. They issued an "outperform" rating and a $15.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, Venu currently has an average rating of "Strong Buy" and a consensus target price of $15.00.

Insiders Place Their Bets

In related news, CEO Jay W. Roth sold 18,418 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $13.44, for a total transaction of $247,537.92. Following the sale, the chief executive officer owned 9,310,122 shares of the company's stock, valued at approximately $125,128,039.68. This represents a 0.20% 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 6,435 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $11.34, for a total value of $72,972.90. Following the sale, the director directly owned 165,864 shares in the company, valued at $1,880,897.76. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,736 shares of company stock worth $1,613,691 in the last ninety days.

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.