Venu (NYSEAMERICAN:VENU) Stock Price Down 3.4% – Here’s Why

Shares of Venu Holding Corporation (NYSEAMERICAN:VENU) fell 3.4% during trading on Monday. The company traded as low as $1.4150 and last traded at $1.43. Approximately 352,088 shares changed hands during trading, a decline of 22% from the average daily volume of 449,224 shares. The stock had previously closed at $1.48.

Venu Stock Performance

The company has a market capitalization of $80.38 million, a P/E ratio of -1.54 and a beta of 3.20. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average is $1.93 and its 200 day moving average is $2.86.

Venu (NYSEAMERICAN:VENU) last issued its earnings results on Thursday, August 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.01). Venu had a negative net margin of 248.60% and a negative return on equity of 21.05%. The business had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.80 million.

Insiders Place Their Bets

In other news, Director Thomas M. Finke bought 54,644 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average price of $1.95 per share, with a total value of $106,555.80. Following the acquisition, the director owned 129,605 shares of the company’s stock, valued at approximately $252,729.75. The trade was a 72.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 72,497 shares of company stock worth $145,317. Corporate insiders own 27.40% of the company’s stock.

Hedge Funds Weigh In On Venu

A number of institutional investors have recently added to or reduced their stakes in VENU. BlackRock Inc. bought a new position in shares of Venu in the second quarter worth approximately $6,570,000. Anson Funds Management LP purchased a new position in Venu in the 1st quarter worth $18,233,000. Nantahala Capital Management LLC purchased a new position in shares of Venu in the second quarter worth about $3,456,886. Empery Asset Management LP bought a new position in Venu during the 2nd quarter worth approximately $1,164,097. Finally, Fort Point Capital Partners LLC grew its position 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 acquiring an additional 174,684 shares during the last quarter.

Venu Company Profile

Venu Holding Corporation is a live entertainment and venue development company focused on creating, owning and operating premium music and entertainment destinations. The company develops open-air concert venues and related hospitality facilities designed to host concerts, festivals and other large-scale events.

Venu’s activities include venue development, concert promotion, event production and hospitality services. Its properties are intended to combine live performances with amenities such as premium seating, food and beverage offerings, lodging, camping and other on-site experiences.

The company’s operations are focused on the United States.