FuboTV (NYSE:FUBO) Shares Up 3.6% – Here’s What Happened

FuboTV Inc. (NYSE:FUBO)’s share price rose 3.6% during mid-day trading on Monday . The company traded as high as $4.29 and last traded at $3.90. Approximately 21,558,345 shares traded hands during trading, a decline of 64% from the average daily volume of 60,706,566 shares. The stock had previously closed at $3.76.

Analyst Ratings Changes

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

FuboTV Stock Down 6.6 %

The firm’s 50-day simple moving average is $3.41 and its 200-day simple moving average is $2.23. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -5.35 and a beta of 1.98.

Insider Activity

In related news, CEO David Gandler sold 1,425,888 shares of the company’s 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. The trade was a 80.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John Janedis sold 25,823 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $4.16, for a total value of $107,423.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,861,426 shares of company stock worth $9,721,411. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in FuboTV by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 18,676,396 shares of the company’s stock valued at $23,532,000 after purchasing an additional 1,377,663 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of FuboTV by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 7,467,867 shares of the company’s stock worth $9,412,000 after buying an additional 365,827 shares in the last quarter. State Street Corp raised its stake in shares of FuboTV by 1.9% in the third quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after acquiring an additional 132,167 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of FuboTV by 45.1% in the 4th quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company’s stock worth $5,449,000 after acquiring an additional 1,344,956 shares in the last quarter. Finally, Northern Trust Corp grew its position in FuboTV by 16.9% during the 4th quarter. Northern Trust Corp now owns 2,999,809 shares of the company’s stock worth $3,780,000 after acquiring an additional 434,406 shares during the last quarter. 39.31% of the stock is owned by institutional investors.

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.