Venu (NYSEAMERICAN:VENU) Shares Down 3.4% - Time to Sell?

Key Points

• Venu shares fell 3.4% to $1.43, trading well below their 50-day average of $1.93 and 200-day average of $2.86. The stock has an $80.4 million market capitalization and high volatility, with a beta of 3.20.
• The company reported a quarterly loss of $0.30 per share, slightly worse than analysts’ expectations, while revenue matched estimates at $4.8 million. Venu posted a negative 248.6% net margin and negative 21.05% return on equity.
• Despite the weak financial results, insiders and institutional investors have been buying shares. A director increased his position by 72.9%, while firms including Anson Funds, BlackRock and Nantahala Capital established or expanded stakes.

Venu Holding Corporation (NYSEAMERICAN:VENU - Get Free Report)'s share price was down 3.4% during mid-day trading on Monday. The stock traded as low as $1.4150 and last traded at $1.43. 352,088 shares changed hands during trading, a decline of 22% from the average daily volume of 449,224 shares. The stock had previously closed at $1.48.

Venu Stock Down 3.4%

The stock has a 50 day moving average price of $1.93 and a 200 day moving average price of $2.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.24 and a current ratio of 0.25. The company has a market capitalization of $80.38 million, a P/E ratio of -1.54 and a beta of 3.20.

Venu (NYSEAMERICAN:VENU - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.01). The company had revenue of $4.80 million for the quarter, compared to analysts' expectations of $4.80 million. Venu had a negative return on equity of 21.05% and a negative net margin of 248.60%.

Insider Activity at Venu

In related news, Director Thomas M. Finke purchased 54,644 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $1.95 per share, with a total value of $106,555.80. Following the acquisition, the director owned 129,605 shares of the company's stock, valued at $252,729.75. This trade represents a 72.90% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 72,497 shares of company stock valued at $145,317. Insiders own 27.40% of the company's stock.

Hedge Funds Weigh In On Venu

Several institutional investors and hedge funds have recently bought and sold shares of VENU. Anson Funds Management LP purchased a new stake in Venu in the first quarter worth $18,233,000. BlackRock Inc. purchased a new position in shares of Venu during the 2nd quarter valued at $6,570,000. Nantahala Capital Management LLC purchased a new position in shares of Venu during the 2nd quarter valued at $3,456,886. Fort Point Capital Partners LLC lifted its position in shares of Venu by 248.1% during the 4th quarter. Fort Point Capital Partners LLC now owns 245,103 shares of the company's stock valued at $2,145,000 after buying an additional 174,684 shares during the last quarter. Finally, Empery Asset Management LP bought a new position in shares of Venu during the 2nd quarter worth $1,164,097.

About Venu

Venu Holding Corporation is a live entertainment and venue development company focused on creating, owning and operating premium music and entertainment destinations. The company develops open-air concert venues and related hospitality facilities designed to host concerts, festivals and other large-scale events.

Venu's activities include venue development, concert promotion, event production and hospitality services. Its properties are intended to combine live performances with amenities such as premium seating, food and beverage offerings, lodging, camping and other on-site experiences.

The company's operations are focused on the United States.

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