FuboTV (NYSE:FUBO) Shares Gap Down on Insider Selling

FuboTV Inc. (NYSE:FUBO)’s share price gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $4.45, but opened at $4.31. FuboTV shares last traded at $4.50, with a volume of 8,713,087 shares trading hands.

Specifically, COO Alberto Horihuela sold 5,868 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $5.98, for a total transaction of $35,090.64. Following the completion of the transaction, the chief operating officer now directly owns 1,446,730 shares of the company’s stock, valued at $8,651,445.40. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Alberto Horihuela sold 403,847 shares of FuboTV stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total value of $2,435,197.41. Following the completion of 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 disclosure for this sale can be found here. In related news, CEO David Gandler sold 1,425,888 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.01, for a total transaction of $7,143,698.88. Following the sale, the chief executive officer now directly owns 346,817 shares in the company, valued at approximately $1,737,553.17. This represents a 80.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

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

FuboTV Stock Performance

The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market cap of $1.31 billion, a PE ratio of -5.87 and a beta of 1.78. The business has a fifty day moving average price of $1.97 and a 200 day moving average price of $1.68.

Hedge Funds Weigh In On FuboTV

Several hedge funds have recently added to or reduced their stakes in FUBO. EWG Elevate Inc. lifted its position in shares of FuboTV by 50.0% during the 4th quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock worth $38,000 after buying an additional 10,000 shares during the last quarter. Barclays PLC raised its stake in 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 acquiring an additional 688,625 shares in the last quarter. Geode Capital Management LLC lifted its position in FuboTV by 6.4% in the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after acquiring an additional 425,906 shares during the last quarter. State Street Corp boosted its stake in FuboTV by 1.9% in the third quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after acquiring an additional 132,167 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of FuboTV by 84.5% during the third quarter. FMR LLC now owns 101,914 shares of the company’s stock worth $145,000 after purchasing an additional 46,670 shares during the last quarter. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

About FuboTV

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.