Venu (NYSEAMERICAN:VENU) Reaches New 52-Week High - Here's Why

Key Points

• Venu Holding Corporation's shares reached a new 52-week high of $16.15, closing at $16.04 with a trading volume of 19,751 shares.
• Equities analysts have upgraded Venu to a "strong-buy" rating, with Northland Securities setting a price objective of $15.00.
• Insider trading activity showed that Director David Lavigne and CEO Jay W. Roth sold shares, collectively amounting to over $64,000 in recent transactions.

Venu Holding Corporation (NYSEAMERICAN:VENU - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $16.15 and last traded at $16.04, with a volume of 19751 shares changing hands. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on VENU shares. Northland Securities assumed coverage on shares of Venu in a research report on Wednesday, June 11th. They set an "outperform" rating and a $15.00 target price for the company. Northland Capmk upgraded shares of Venu to a "strong-buy" rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, Venu has an average rating of "Strong Buy" and a consensus price target of $15.00.

Venu Stock Down 0.9%

The company has a current ratio of 2.72, a quick ratio of 2.70 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $672.73 million and a P/E ratio of -15.07. The stock has a 50 day moving average price of $13.68 and a 200 day moving average price of $10.64.

Insider Transactions at Venu

In other news, CEO Jay W. Roth sold 3,055 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $12.20, for a total transaction of $37,271.00. Following the sale, the chief executive officer directly owned 9,244,644 shares in the company, valued at approximately $112,784,656.80. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Lavigne sold 2,390 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 163,474 shares of the company's stock, valued at $1,850,525.68. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,736 shares of company stock worth $1,613,691 over the last three months.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Venu during the 2nd quarter valued at about $33,000. North Capital Inc. lifted its stake in Venu by 23.7% in the second quarter. North Capital Inc. now owns 15,031 shares of the company's stock valued at $177,000 after buying an additional 2,879 shares during the period. Bard Associates Inc. boosted its holdings in shares of Venu by 3.8% during the 1st quarter. Bard Associates Inc. now owns 211,090 shares of the company's stock worth $1,953,000 after buying an additional 7,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Venu during the 1st quarter worth approximately $92,000. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Venu in the 1st quarter valued at $104,000.

About Venu

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.