Venu (NYSEAMERICAN:VENU) Stock Price Down 7% – Here’s Why

Venu Holding Corporation (NYSEAMERICAN:VENU) fell 7% on Thursday . The company traded as low as $3.33 and last traded at $3.44. 500,252 shares changed hands during mid-day trading, an increase of 51% from the average session volume of 331,049 shares. The stock had previously closed at $3.70.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Venu to a “hold” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Venu currently has an average rating of “Buy” and a consensus target price of $15.00.

Venu Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a 50-day moving average price of $6.36 and a 200-day moving average price of $9.63. The firm has a market capitalization of $145.26 million, a PE ratio of -2.80 and a beta of 3.27.

Insider Activity at Venu

In related news, CEO Jay W. Roth purchased 5,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was acquired at an average price of $5.55 per share, with a total value of $27,750.00. Following the completion of the transaction, the chief executive officer owned 9,249,644 shares of the company’s stock, valued at $51,335,524.20. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas M. Finke purchased 4,361 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average price of $7.80 per share, with a total value of $34,015.80. Following the purchase, the director owned 29,961 shares of the company’s stock, valued at approximately $233,695.80. The trade was a 17.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 10,246 shares of company stock worth $68,979 over the last 90 days. 34.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Venu by 56.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,351,910 shares of the company’s stock worth $17,318,000 after purchasing an additional 489,999 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Venu during the third quarter worth about $8,878,000. First Western Trust Bank increased its holdings in Venu by 62.5% in the third quarter. First Western Trust Bank now owns 650,120 shares of the company’s stock valued at $8,328,000 after buying an additional 250,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Venu by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 328,970 shares of the company’s stock valued at $2,771,000 after buying an additional 14,523 shares in the last quarter. Finally, Fort Point Capital Partners LLC lifted its holdings in Venu by 248.1% during the 4th quarter. Fort Point Capital Partners LLC now owns 245,103 shares of the company’s stock worth $2,145,000 after buying an additional 174,684 shares during the last quarter.

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.