Venu (NYSEAMERICAN:VENU) Shares Gap Down - Here's Why

Key Points

• Venu Holding Corporation shares opened at $15.25, significantly lower than the previous close of $17.93, and last traded at $14.49 with a trading volume of 91,705 shares.
• Analysts have a consensus rating of Strong Buy on Venu stock with a target price of $15.00, following upgrades by brokerages including Northland Capital Markets.
• In recent insider trading, Director David Lavigne and CEO Jay W. Roth sold portions of their shares, with 127,736 shares sold worth over $1.6 million in the last 90 days.

Venu Holding Corporation (NYSEAMERICAN:VENU - Get Free Report)'s share price gapped down before the market opened 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VENU shares. Northland Securities started coverage on Venu in a research note on Wednesday, June 11th. They set an "outperform" rating and a $15.00 price target on the stock. Northland Capmk raised Venu to a "strong-buy" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Strong Buy" and an average target price of $15.00.

Venu Trading Down 0.2%

The stock has a market capitalization of $511.94 million and a price-to-earnings ratio of -10.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.71 and a current ratio of 2.72. The firm has a fifty day moving average of $13.73 and a 200-day moving average of $10.76.

Insider Buying and Selling at Venu

In related 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 value of $37,271.00. Following the completion of the sale, the chief executive officer directly 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 Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,736 shares of company stock valued at $1,613,691.

Institutional Trading of Venu

Several large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Venu during the second quarter valued at about $33,000. North Capital Inc. grew its stake in shares of Venu by 23.7% during the second quarter. North Capital Inc. now owns 15,031 shares of the company's stock valued at $177,000 after acquiring an additional 2,879 shares in the last quarter. Bard Associates Inc. grew its stake in shares of Venu by 3.8% during the first quarter. Bard Associates Inc. now owns 211,090 shares of the company's stock valued at $1,953,000 after acquiring an additional 7,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Venu during the first quarter valued at about $92,000. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of Venu during the first quarter valued at about $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.