Venu (NYSEAMERICAN:VENU) Shares Gap Down - Should You Sell?

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 share 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 changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VENU shares. Northland Securities initiated coverage on Venu in a report on Wednesday, June 11th. They set an "outperform" rating and a $15.00 price target for the company. Northland Capmk raised Venu to a "strong-buy" rating in a research report on Wednesday, June 11th. One 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, the stock currently has an average rating of "Strong Buy" and an average price target of $15.00.

Venu Trading Up 7.1%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.70 and a current ratio of 2.72. The company has a 50-day simple moving average of $13.25 and a 200 day simple moving average of $10.48. The company has a market capitalization of $652.85 million and a P/E ratio of -14.62.

Insider Activity at Venu

In other news, Director David Lavigne sold 2,390 shares of Venu stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $11.32, for a total transaction of $27,054.80. Following the sale, the director owned 163,474 shares of the company's stock, valued at approximately $1,850,525.68. This trade represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay W. Roth sold 3,055 shares of Venu stock in a transaction that occurred 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 sale, the chief executive officer directly owned 9,244,644 shares in the company, valued at $112,784,656.80. The trade was a 0.03% 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 three months.

Institutional Trading of Venu

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Venu in the 2nd quarter valued at $33,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Venu in the 1st quarter valued at $92,000. Cypress Capital Management LLC WY acquired a new stake in Venu in the 1st quarter valued at $104,000. North Capital Inc. acquired a new stake in Venu in the 1st quarter valued at $112,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Venu in the 1st quarter valued at $171,000.

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.