fuboTV Inc. $FUBO Shares Newly Bought by State Street Corp

Key Points

• State Street Corp acquired 625,643 fuboTV shares in the second quarter, valued at approximately $5.76 million and representing about 2.07% of the company. Institutional investors and hedge funds collectively own 39.31% of fuboTV.
• Analyst sentiment is mixed but leans positive, with fuboTV holding a consensus “Moderate Buy” rating and an average price target of $16.83; individual ratings range from Sell to Strong Buy.
• fuboTV shares opened at $9.66, well below the 12-month high of $52.68. The company’s latest quarter showed a narrower-than-expected loss of $0.25 per share and 38% year-over-year revenue growth, though revenue fell slightly short of estimates.

State Street Corp purchased a new stake in fuboTV Inc. (NYSE:FUBO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 625,643 shares of the company's stock, valued at approximately $5,756,000. State Street Corp owned approximately 2.07% of fuboTV at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mudrick Capital Management L.P. acquired a new stake in shares of fuboTV in the second quarter valued at $12,387,000. Pacer Advisors Inc. lifted its position in shares of fuboTV by 33.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,851,690 shares of the company's stock worth $4,666,000 after purchasing an additional 464,607 shares during the last quarter. Virtu Financial LLC purchased a new stake in fuboTV during the 4th quarter worth about $802,000. HighTower Advisors LLC purchased a new position in fuboTV in the second quarter valued at approximately $775,000. Finally, Corient Private Wealth LP purchased a new position in shares of fuboTV in the 2nd quarter valued at $595,000. 39.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FUBO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of fuboTV in a report on Wednesday, August 5th. Zacks Research downgraded fuboTV from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Wall Street Zen lowered fuboTV from a "hold" rating to a "sell" rating in a research note on Sunday, June 21st. Barrington Research reiterated an "outperform" rating and issued a $16.00 price objective on shares of fuboTV in a research report on Thursday, June 11th. Finally, Wedbush reiterated an "outperform" rating and set a $19.00 target price on shares of fuboTV in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.83.

fuboTV Trading Down 0.7%

NYSE:FUBO opened at $9.66 on Friday. The business's 50-day moving average is $10.07 and its two-hundred day moving average is $10.58. The firm has a market capitalization of $291.73 million, a PE ratio of -7.54 and a beta of 2.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. fuboTV Inc. has a 12 month low of $7.95 and a 12 month high of $52.68.

fuboTV (NYSE:FUBO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned ($0.02) earnings per share. fuboTV's revenue for the quarter was up 38.0% on a year-over-year basis. Research analysts predict that fuboTV Inc. will post -0.29 earnings per share for the current fiscal year.

About fuboTV

fuboTV Inc is a sports-focused live television streaming company that provides subscribers with access to live sports, news and entertainment programming over the internet. Its service is designed as an alternative to traditional pay television, allowing customers to stream programming on connected televisions, mobile devices, computers and other supported platforms.

The company's offerings generally include packages of live television channels, sports networks and regional programming, along with features such as cloud-based digital video recording and multiview capabilities.

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