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

Shares of FuboTV Inc. (NYSE:FUBO) shot up 4.7% during trading on Wednesday . The stock traded as high as $4.25 and last traded at $4.14. 14,641,632 shares traded hands during trading, a decline of 85% from the average session volume of 98,205,617 shares. The stock had previously closed at $3.95.

Analysts Set New Price Targets

Separately, Roth Mkm reissued a “neutral” rating and issued a $4.75 price objective (up 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 given a buy rating to the company. According to data from MarketBeat, FuboTV currently has a consensus rating of “Hold” and a consensus target price 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 stock’s 50-day moving average price is $2.45 and its 200-day moving average price is $1.86. The company has a market capitalization of $1.36 billion, a P/E ratio of -6.08 and a beta of 1.78.

Insiders Place Their Bets

In related news, CEO David Gandler sold 1,425,888 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.01, for a total value of $7,143,698.88. Following the sale, the chief executive officer now owns 346,817 shares of the company’s stock, valued at $1,737,553.17. This trade represents a 80.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alberto Horihuela sold 47,478 shares of FuboTV stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $1.47, for a total transaction of $69,792.66. Following the completion of the sale, the chief operating officer now owns 1,471,325 shares in the company, valued at approximately $2,162,847.75. This represents a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,957,407 shares of company stock valued at $9,793,039 over the last quarter. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On FuboTV

Several large investors have recently made changes to their positions in FUBO. ProShare Advisors LLC grew its holdings in FuboTV by 71.3% in the 2nd quarter. ProShare Advisors LLC now owns 197,037 shares of the company’s stock worth $244,000 after buying an additional 82,042 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of FuboTV by 32.8% in the second quarter. AQR Capital Management LLC now owns 201,446 shares of the company’s stock worth $250,000 after purchasing an additional 49,744 shares in the last quarter. Millennium Management LLC increased its holdings in shares of FuboTV by 132.6% during the second quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock valued at $5,965,000 after purchasing an additional 2,742,780 shares during the period. Algert Global LLC bought a new stake in shares of FuboTV during the second quarter valued at about $37,000. Finally, SG Americas Securities LLC lifted its holdings in FuboTV by 66.0% in the third quarter. SG Americas Securities LLC now owns 109,732 shares of the company’s stock worth $156,000 after purchasing an additional 43,637 shares during the period. 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.