Bank of America Corp DE Cuts Stock Holdings in FuboTV Inc. (NYSE:FUBO)

Bank of America Corp DE cut its holdings in shares of FuboTV Inc. (NYSE:FUBO - Free Report) by 62.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 346,570 shares of the company's stock after selling 584,908 shares during the period. Bank of America Corp DE owned approximately 0.10% of FuboTV worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in shares of FuboTV in the fourth quarter valued at about $55,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of FuboTV during the fourth quarter worth $165,000. Schonfeld Strategic Advisors LLC acquired a new stake in FuboTV in the fourth quarter valued at $168,000. Northern Trust Corp grew its holdings 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 period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of FuboTV by 2.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company's stock valued at $138,000 after buying an additional 2,668 shares during the period. 39.31% of the stock is currently owned by institutional investors.

FuboTV Stock Down 6.9%

FUBO traded down $0.24 during midday trading on Friday, reaching $3.18. The company's stock had a trading volume of 9,292,516 shares, compared to its average volume of 20,438,159. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -4.74 and a beta of 2.24. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. FuboTV Inc. has a 1 year low of $1.10 and a 1 year high of $6.45. The stock's 50-day moving average is $3.08 and its 200-day moving average is $3.05.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FUBO shares. UBS Group set a $3.50 price target on shares of FuboTV in a report on Monday, March 3rd. Wedbush reduced their price objective on shares of FuboTV from $6.40 to $5.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Finally, Needham & Company LLC reduced their price objective on shares of FuboTV from $3.35 to $3.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $4.06.

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.