FuboTV (NYSE:FUBO) Trading Up 10.2% – What’s Next?

FuboTV Inc. (NYSE:FUBO)’s stock price rose 10.2% during trading on Monday . The company traded as high as $1.60 and last traded at $1.56. Approximately 13,889,733 shares changed hands during trading, an increase of 31% from the average daily volume of 10,601,400 shares. The stock had previously closed at $1.42.

Wall Street Analysts Forecast Growth

FUBO has been the topic of several research reports. Seaport Res Ptn lowered FuboTV from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Barrington Research restated a “market perform” rating on shares of FuboTV in a report on Tuesday, August 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of FuboTV in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, FuboTV has a consensus rating of “Hold” and an average price target of $2.88.

FuboTV Stock Performance

The stock has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.45. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $501.14 million, a price-to-earnings ratio of -2.24 and a beta of 1.76.

Insider Buying and Selling at FuboTV

In related news, COO Alberto Horihuela sold 47,478 shares of the business’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 transaction of $69,792.66. Following the completion of the sale, the chief operating officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Janedis sold 74,326 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 76,766 shares in the company, valued at $112,846.02. This represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On FuboTV

Hedge funds and other institutional investors have recently bought and sold shares of 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 acquiring an additional 2,742,780 shares during the last quarter. Marshall Wace LLP raised its stake in FuboTV by 114.1% during the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock valued at $10,383,000 after acquiring an additional 4,461,707 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of FuboTV in the 1st quarter valued at approximately $618,000. Bank of New York Mellon Corp grew its stake in shares of FuboTV by 13.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,072,236 shares of the company’s stock valued at $1,330,000 after purchasing an additional 127,978 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of FuboTV by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 183,815 shares of the company’s stock valued at $291,000 after purchasing an additional 9,229 shares during the period. 39.31% of the stock is currently owned by institutional investors and hedge funds.

FuboTV Company Profile

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company’s platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.