FuboTV (NYSE:FUBO) Shares Gap Up – Here’s Why

Shares of FuboTV Inc. (NYSE:FUBO) gapped up prior to trading on Tuesday . The stock had previously closed at $5.06, but opened at $5.43. FuboTV shares last traded at $5.98, with a volume of 146,178,452 shares.

Analyst Upgrades and Downgrades

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

FuboTV Price Performance

The firm has a fifty day moving average price of $1.58 and a two-hundred day moving average price of $1.52. The stock has a market capitalization of $2.00 billion, a P/E ratio of -8.92 and a beta of 1.78. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Activity

In related news, COO Alberto Horihuela sold 47,478 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $1.47, for a total value of $69,792.66. Following the transaction, the chief operating officer now directly owns 1,471,325 shares of the company’s stock, valued at approximately $2,162,847.75. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Janedis sold 74,326 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $1.47, for a total value of $109,259.22. Following the completion of the transaction, the chief financial officer now directly owns 76,766 shares in the company, valued at approximately $112,846.02. This represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional Trading of FuboTV

Hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of FuboTV by 132.6% during the 2nd quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock worth $5,965,000 after acquiring an additional 2,742,780 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of FuboTV by 114.1% during the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock worth $10,383,000 after acquiring an additional 4,461,707 shares in the last quarter. Barclays PLC raised its holdings 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 acquiring an additional 688,625 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of FuboTV by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock worth $10,087,000 after acquiring an additional 425,906 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of FuboTV by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock worth $3,676,000 after acquiring an additional 200,154 shares in the last quarter. 39.31% of the stock is owned by hedge funds and other institutional investors.

About FuboTV

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company’s platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.