FuboTV (NYSE:FUBO) Shares Down 5.2% – What’s Next?

FuboTV Inc. (NYSE:FUBO) shares traded down 5.2% on Thursday . The stock traded as low as $4.23 and last traded at $4.23. 2,548,031 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 79,806,555 shares. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Huber Research raised FuboTV to a “strong-buy” rating in a report on Friday, January 31st. Roth Mkm reiterated a “neutral” rating and set a $4.75 price target (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, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3.43.

FuboTV Trading Down 6.8 %

The stock has a market cap of $1.39 billion, a PE ratio of -6.16 and a beta of 1.98. The firm has a 50-day moving average price of $2.78 and a 200-day moving average price of $1.98. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54.

Insiders Place Their Bets

In other news, COO Alberto Horihuela sold 47,478 shares of FuboTV stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total value of $69,792.66. Following the completion of the sale, the chief operating officer now directly owns 1,471,325 shares in the company, valued at $2,162,847.75. The trade was a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Janedis sold 74,326 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total transaction of $109,259.22. Following the sale, the chief financial officer now owns 76,766 shares of the company’s stock, valued at approximately $112,846.02. This represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,957,407 shares of company stock valued at $9,793,039. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its position 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 worth $5,965,000 after purchasing an additional 2,742,780 shares in the last quarter. Barclays PLC raised its holdings in shares of FuboTV by 121.3% during the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock worth $1,784,000 after acquiring an additional 688,625 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of FuboTV by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after acquiring an additional 425,906 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in FuboTV by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock valued at $3,676,000 after purchasing an additional 200,154 shares in the last quarter. Finally, 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 worth $9,848,000 after buying an additional 132,167 shares in the last quarter. 39.31% of the stock is currently owned by institutional investors.

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.