Second Line Capital LLC Cuts Stock Position in fuboTV Inc. $FUBO

Key Points

• Second Line Capital LLC has decreased its holdings in fuboTV Inc. by 25.0%, selling 134,086 shares to end up with 402,327 shares valued at approximately $1,175,000.
• Multiple hedge funds recently acquired positions in fuboTV, with institutional investors owning about 39.31% of the company’s stock.
• Analysts have varied opinions on fuboTV, with price targets ranging from $3.00 to $6.00, reflecting a consensus rating of "Buy" despite some downgrades.

Second Line Capital LLC lessened its holdings in shares of fuboTV Inc. (NYSE:FUBO - Free Report) by 25.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 402,327 shares of the company's stock after selling 134,086 shares during the quarter. Second Line Capital LLC owned about 0.12% of fuboTV worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in fuboTV by 1.8% in the fourth quarter. Invesco Ltd. now owns 487,104 shares of the company's stock valued at $614,000 after purchasing an additional 8,475 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of fuboTV during the fourth quarter worth approximately $35,000. Barclays PLC raised its stake in shares of fuboTV by 38.4% during the fourth quarter. Barclays PLC now owns 1,738,929 shares of the company's stock worth $2,191,000 after acquiring an additional 482,470 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of fuboTV by 19.6% during the fourth quarter. MetLife Investment Management LLC now owns 201,512 shares of the company's stock worth $254,000 after acquiring an additional 32,963 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of fuboTV by 228.7% in the fourth quarter. Hsbc Holdings PLC now owns 142,231 shares of the company's stock worth $176,000 after buying an additional 98,964 shares during the period. Institutional investors own 39.31% of the company's stock.

fuboTV Price Performance

FUBO stock traded down $0.09 during midday trading on Wednesday, hitting $3.70. The company's stock had a trading volume of 12,318,080 shares, compared to its average volume of 26,068,633. fuboTV Inc. has a 12 month low of $1.21 and a 12 month high of $6.45. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 14.21 and a beta of 2.36. The company has a 50 day moving average of $3.60 and a two-hundred day moving average of $3.31.

Analyst Ratings Changes

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

Insider Transactions at fuboTV

In other news, Director Daniel V. Leff sold 75,339 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $4.14, for a total transaction of $311,903.46. Following the completion of the transaction, the director directly owned 375,395 shares in the company, valued at approximately $1,554,135.30. This represents a 16.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $3.62, for a total value of $216,092.28. Following the sale, the chairman owned 8,673 shares in the company, valued at $31,396.26. The trade was a 87.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 426,849 shares of company stock valued at $1,660,612 over the last quarter. 5.30% of the stock is owned by insiders.

fuboTV 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.