FuboTV (NYSE:FUBO) Shares Gap Up – Still a Buy?

FuboTV Inc. (NYSE:FUBO) gapped up before the market opened on Friday . The stock had previously closed at $3.85, but opened at $4.16. FuboTV shares last traded at $4.00, with a volume of 8,043,247 shares trading hands.

Wall Street Analysts Forecast Growth

FUBO has been the subject of a number of research reports. Roth Mkm reiterated a “neutral” rating and issued a $4.75 price target (up from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Huber Research raised shares of FuboTV to a “strong-buy” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, FuboTV currently has a consensus rating of “Moderate Buy” and an average price target of $3.43.

FuboTV Stock Performance

The firm’s 50-day simple moving average is $3.27 and its two-hundred day simple moving average is $2.16. 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 has a market capitalization of $1.32 billion, a PE ratio of -5.87 and a beta of 1.99.

Insider Activity at FuboTV

In related news, COO Alberto Horihuela sold 5,868 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 1,446,730 shares in the company, valued at $8,651,445.40. This represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Gandler sold 1,425,888 shares of FuboTV stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.01, for a total value of $7,143,698.88. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,835,603 shares of company stock valued at $9,613,987. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in FuboTV by 2.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company’s stock worth $138,000 after buying an additional 2,668 shares during the last quarter. Corebridge Financial Inc. boosted its stake in FuboTV by 2.1% in the fourth quarter. Corebridge Financial Inc. now owns 160,328 shares of the company’s stock worth $202,000 after purchasing an additional 3,321 shares in the last quarter. Xponance Inc. increased its stake in shares of FuboTV by 19.1% in the fourth quarter. Xponance Inc. now owns 23,002 shares of the company’s stock valued at $29,000 after buying an additional 3,689 shares in the last quarter. Invesco Ltd. increased its stake in shares of FuboTV by 1.8% in the 4th quarter. Invesco Ltd. now owns 487,104 shares of the company’s stock valued at $614,000 after buying an additional 8,475 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of FuboTV by 10.7% during the fourth quarter. Arizona State Retirement System now owns 95,578 shares of the company’s stock valued at $120,000 after acquiring an additional 9,230 shares during the period. Institutional investors and hedge funds own 39.31% of the company’s stock.

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.