Cornerstone Investment Partners LLC Acquires New Shares in fuboTV Inc. $FUBO

Cornerstone Investment Partners LLC bought a new stake in fuboTV Inc. (NYSE:FUBO) during the 2nd quarter, Holdings Channel reports. The fund bought 43,282 shares of the company’s stock, valued at approximately $167,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Focus Partners Wealth bought a new stake in shares of fuboTV in the 1st quarter valued at about $30,000. Cresset Asset Management LLC bought a new position in fuboTV during the 1st quarter worth approximately $38,000. Valeo Financial Advisors LLC acquired a new position in fuboTV during the first quarter valued at approximately $45,000. Fee Only Financial Planning L.C. acquired a new position in fuboTV during the second quarter valued at approximately $51,000. Finally, Carnegie Investment Counsel bought a new stake in fuboTV in the second quarter valued at approximately $51,000. Institutional investors own 39.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and set a $6.00 price target (up from $5.00) on shares of fuboTV in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of fuboTV in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $4.25 target price on shares of fuboTV in a report on Tuesday. Finally, Wall Street Zen cut fuboTV from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4.63.

Insider Buying and Selling

In other fuboTV news, Director Daniel V. Leff sold 66,061 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $3.68, for a total value of $243,104.48. Following the sale, the director owned 390,427 shares in the company, valued at approximately $1,436,771.36. The trade was a 14.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $3.62, for a total value of $216,092.28. Following the transaction, the chairman directly owned 8,673 shares of the company’s stock, valued at approximately $31,396.26. This trade represents a 87.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 185,449 shares of company stock worth $675,289. 5.30% of the stock is owned by insiders.

fuboTV Trading Down 7.7%

Shares of NYSE:FUBO opened at $3.77 on Friday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 10.46 and a beta of 2.55. fuboTV Inc. has a 12 month low of $1.21 and a 12 month high of $6.45. The company’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $3.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.48.

fuboTV (NYSE:FUBO) last announced its earnings results on Monday, November 3rd. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. fuboTV had a net margin of 7.61% and a negative return on equity of 6.66%. The firm had revenue of $377.20 million during the quarter, compared to analyst estimates of $361.33 million. During the same period in the prior year, the business earned ($0.08) EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that fuboTV Inc. will post -0.51 EPS for the current fiscal year.

fuboTV 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.