Venu (NYSEAMERICAN:VENU) Shares Up 6.7% - What's Next?

Key Points

• Venu Holding Corporation's share price increased by 6.7% during trading, reaching a high of $12.64 before settling at $12.53.
• Equity analysts rate Venu stock as "Strong Buy" with a price target of $15.00, indicating positive expectations for its performance.
• Insider transactions included significant sales by the Director and CEO, with a total of 127,736 shares sold over the last 90 days, representing 34.20% ownership by insiders.

Venu Holding Corporation (NYSEAMERICAN:VENU - Get Free Report) shares were up 6.7% during trading on Tuesday . The company traded as high as $12.64 and last traded at $12.53. Approximately 49,201 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 64,848 shares. The stock had previously closed at $11.74.

Analyst Ratings Changes

A number of analysts have commented on VENU shares. Northland Securities started coverage on Venu in a research report on Wednesday, June 11th. They issued an "outperform" rating and a $15.00 price target for the company. Northland Capmk upgraded 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 issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and an average price target of $15.00.

Venu Price Performance

The firm has a market cap of $516.37 million and a PE ratio of -10.76. The firm has a fifty day simple moving average of $13.69 and a two-hundred day simple moving average of $11.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.71 and a current ratio of 2.72.

Insider Activity at Venu

In other Venu news, Director David Lavigne sold 6,435 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $11.34, for a total transaction of $72,972.90. Following the completion of the transaction, the director owned 165,864 shares in the company, valued at $1,880,897.76. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jay W. Roth sold 18,418 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $13.44, for a total value of $247,537.92. Following the transaction, the chief executive officer owned 9,310,122 shares of the company's stock, valued at $125,128,039.68. This represents a 0.20% 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 valued at $1,613,691 in the last 90 days. 34.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Venu

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