Venu (NYSEAMERICAN:VENU) Trading Down 6.1% – Here’s What Happened

Venu Holding Corporation (NYSEAMERICAN:VENU) shares were down 6.1% on Friday . The company traded as low as $3.23 and last traded at $3.26. Approximately 451,309 shares changed hands during trading, an increase of 54% from the average daily volume of 292,262 shares. The stock had previously closed at $3.47.

Venu Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $3.71 and its two-hundred day simple moving average is $5.95. The stock has a market cap of $193.77 million, a price-to-earnings ratio of -3.51 and a beta of 2.99.

Venu (NYSEAMERICAN:VENU) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Venu had a negative return on equity of 19.66% and a negative net margin of 217.24%.The business had revenue of $3.90 million for the quarter, compared to analyst estimates of $3.75 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Venu during the second quarter valued at $33,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Venu by 199.8% during the third quarter. EverSource Wealth Advisors LLC now owns 3,001 shares of the company’s stock valued at $38,000 after acquiring an additional 2,000 shares during the period. Keel Point LLC bought a new position in shares of Venu during the first quarter valued at $62,000. Bank of America Corp DE acquired a new stake in shares of Venu during the third quarter worth approximately $77,000. Finally, Apollon Wealth Management LLC bought a new position in shares of Venu in the fourth quarter valued at approximately $88,000.

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.