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

Key Points

• Venu Holding Corporation shares gapped down, opening at $15.50 despite a previous close of $15.91, with recent trading volatility reflected by a last traded price of $15.93.
• Analyst ratings have fluctuated, with Northland Securities giving Venu an "outperform" rating and a price target of $15.00, while another report upgraded the stock to a "strong-buy" rating.
• Insider activity included the CEO selling 18,418 shares, decreasing their ownership by 0.20%, along with a total of 127,736 shares sold by insiders in the last quarter.

Venu Holding Corporation (NYSEAMERICAN:VENU - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $15.91, but opened at $15.50. Venu shares last traded at $15.93, with a volume of 6,767 shares trading hands.

Wall Street Analysts Forecast Growth

VENU has been the topic of several analyst reports. Northland Securities initiated coverage on Venu in a report on Wednesday, June 11th. They set an "outperform" rating and a $15.00 target price on the stock. Northland Capmk upgraded Venu to a "strong-buy" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Venu currently has a consensus rating of "Strong Buy" and an average price target of $15.00.

Venu Stock Up 2.9%

The firm has a market cap of $671.61 million and a price-to-earnings ratio of -15.04. 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 stock has a 50-day moving average of $13.25 and a 200-day moving average of $10.48.

Insider Activity at Venu

In other Venu news, CEO Jay W. Roth sold 18,418 shares of Venu stock in a transaction on 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 $125,128,039.68. The trade was a 0.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Lavigne sold 6,435 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $11.34, for a total value of $72,972.90. Following the completion of the transaction, the director directly owned 165,864 shares of the company's stock, valued at approximately $1,880,897.76. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,736 shares of company stock valued at $1,613,691.

Hedge Funds Weigh In On Venu

A number of institutional investors and hedge funds have recently bought and sold shares of VENU. Bleichroeder LP bought a new position in Venu in the 4th quarter valued at about $183,000. Focus Partners Wealth bought a new position in Venu during the fourth quarter valued at about $589,000. OMERS ADMINISTRATION Corp bought a new position in Venu during the fourth quarter valued at about $244,000. Pallas Capital Advisors LLC bought a new position in Venu during the first quarter valued at about $193,000. Finally, Willis Investment Counsel bought a new position in Venu during the first quarter valued at about $299,000.

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.