FuboTV (NYSE:FUBO) Trading 4.7% Higher – Here’s Why

FuboTV Inc. (NYSE:FUBO) shares rose 4.7% during mid-day trading on Wednesday . The company traded as high as $4.25 and last traded at $4.14. Approximately 14,641,632 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 98,205,617 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated a “neutral” rating and set a $4.75 price target (up from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, FuboTV currently has an average rating of “Hold” and an average target price of $3.43.

FuboTV Stock Down 2.4 %

The company has a market capitalization of $1.34 billion, a P/E ratio of -6.00 and a beta of 1.78. The business’s fifty day moving average price is $2.55 and its 200 day moving average price is $1.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Buying and Selling

In other FuboTV news, COO Alberto Horihuela sold 403,847 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $6.03, for a total transaction of $2,435,197.41. Following the transaction, the chief operating officer now owns 1,449,751 shares of the company’s stock, valued at $8,741,998.53. The trade was a 21.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John Janedis sold 74,326 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total transaction of $109,259.22. Following the completion of the sale, the chief financial officer now owns 76,766 shares of the company’s stock, valued at approximately $112,846.02. This represents a 49.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,957,407 shares of company stock worth $9,793,039 in the last three months. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On FuboTV

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in FuboTV by 132.6% in the 2nd quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock worth $5,965,000 after purchasing an additional 2,742,780 shares in the last quarter. Barclays PLC grew its position in shares of FuboTV by 121.3% during the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock worth $1,784,000 after buying an additional 688,625 shares during the period. Geode Capital Management LLC raised its holdings in shares of FuboTV by 6.4% during the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after purchasing an additional 425,906 shares during the period. Charles Schwab Investment Management Inc. grew its stake in FuboTV by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock valued at $3,676,000 after acquiring an additional 200,154 shares during the period. Finally, State Street Corp increased its stake in FuboTV by 1.9% during the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after purchasing an additional 132,167 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company’s stock.

FuboTV Company Profile

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.