FuboTV (NYSE:FUBO) Trading Up 7.6% – Here’s What Happened

FuboTV Inc. (NYSE:FUBO) shares were up 7.6% during mid-day trading on Thursday . The stock traded as high as $3.90 and last traded at $3.90. Approximately 10,214,032 shares were traded during trading, a decline of 91% from the average daily volume of 118,607,273 shares. The stock had previously closed at $3.62.

Wall Street Analyst Weigh In

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

FuboTV Trading Up 1.1 %

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 company has a market cap of $1.35 billion, a PE ratio of -6.02 and a beta of 1.78. The company has a fifty day simple moving average of $2.35 and a two-hundred day simple moving average of $1.82.

Insider Buying and Selling

In other news, CEO David Gandler sold 1,425,888 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 346,817 shares of the company’s stock, valued at approximately $1,737,553.17. The trade was a 80.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alberto Horihuela sold 47,478 shares of the firm’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 owns 1,471,325 shares in the company, valued at $2,162,847.75. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,957,407 shares of company stock worth $9,793,039. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On FuboTV

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUBO. Marshall Wace LLP grew its holdings in shares of FuboTV by 114.1% during the second quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock worth $10,383,000 after buying an additional 4,461,707 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 during the period. State Street Corp grew its stake in shares of FuboTV by 1.9% in 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 during the last quarter. Millennium Management LLC increased its holdings in shares of FuboTV by 132.6% in 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. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of FuboTV by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock worth $3,676,000 after purchasing an additional 200,154 shares during the last quarter. Hedge funds and other institutional investors 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.