Vanguard Group Inc. Raises Position in fuboTV Inc. $FUBO

Key Points

• Vanguard Group Inc. increased its stake in fuboTV Inc. by 13.2%, owning 21,144,463 shares valued at approximately $61.7 million by the end of the first quarter.
• Analysts have mixed ratings for fuboTV, with a consensus rating of "Buy" and an average price target of $4.63.
• Insider transactions revealed a significant sell-off, with Chairman Edgar Bronfman, Jr. reducing his stake by 87.31% after selling 59,694 shares.

Vanguard Group Inc. boosted its holdings in fuboTV Inc. (NYSE:FUBO - Free Report) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,144,463 shares of the company's stock after purchasing an additional 2,468,067 shares during the quarter. Vanguard Group Inc. owned about 6.19% of fuboTV worth $61,742,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FUBO. Northern Trust Corp grew its holdings in fuboTV by 16.9% in the fourth quarter. Northern Trust Corp now owns 2,999,809 shares of the company's stock worth $3,780,000 after purchasing an additional 434,406 shares during the period. Barclays PLC boosted its position in shares of fuboTV by 38.4% during the 4th quarter. Barclays PLC now owns 1,738,929 shares of the company's stock worth $2,191,000 after purchasing an additional 482,470 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of fuboTV by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 983,346 shares of the company's stock valued at $2,871,000 after buying an additional 74,001 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in fuboTV by 79.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 740,780 shares of the company's stock valued at $933,000 after buying an additional 327,212 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in fuboTV by 4,635.3% in the fourth quarter. Two Sigma Investments LP now owns 512,591 shares of the company's stock worth $646,000 after acquiring an additional 501,766 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FUBO shares. Wall Street Zen cut fuboTV from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Needham & Company LLC raised their price target on shares of fuboTV from $3.00 to $4.25 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Wedbush reiterated an "outperform" rating and set a $6.00 price target (up previously from $5.00) on shares of fuboTV in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $4.63.

Insider Transactions at fuboTV

In other news, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $3.62, for a total transaction of $216,092.28. Following the transaction, the chairman owned 8,673 shares of the company's stock, valued at $31,396.26. This represents a 87.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ignacio Figueras sold 66,061 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $4.26, for a total value of $281,419.86. Following the transaction, the director owned 402,009 shares of the company's stock, valued at $1,712,558.34. The trade was a 14.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 426,849 shares of company stock valued at $1,660,612. Corporate insiders own 5.30% of the company's stock.

fuboTV Stock Performance

FUBO traded down $0.03 during midday trading on Tuesday, reaching $3.45. The company had a trading volume of 7,291,173 shares, compared to its average volume of 20,621,084. The business has a 50-day moving average price of $3.56 and a two-hundred day moving average price of $3.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.69 and a current ratio of 0.69. fuboTV Inc. has a 12-month low of $1.21 and a 12-month high of $6.45. The stock has a market cap of $1.18 billion, a PE ratio of 13.25 and a beta of 2.28.

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.