fuboTV Inc. (NYSE:FUBO) Chairman Sells $216,092.28 in Stock

Key Points

• fuboTV Inc. Chairman Edgar Bronfman, Jr. sold 59,694 shares of the company's stock for a total of $216,092.28, reducing his ownership by 87.31%, leaving him with just 8,673 shares.
• The company's stock has a market capitalization of $1.27 billion, and analysts have set a consensus price target of $4.63, with various firms issuing differing ratings on the stock.
• Recent institutional inflows include significant stake increases from firms such as The Manufacturers Life Insurance Company and Principal Financial Group, suggesting renewed interest in fuboTV among institutional investors.

fuboTV Inc. (NYSE:FUBO - Get Free Report) Chairman Edgar Bronfman, Jr. sold 59,694 shares of fuboTV stock in a transaction that occurred 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 completion of the transaction, the chairman directly owned 8,673 shares in the company, valued at $31,396.26. This represents a 87.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

fuboTV Trading Down 1.5%

Shares of fuboTV stock traded down $0.06 during trading on Thursday, hitting $3.71. The stock had a trading volume of 12,367,828 shares, compared to its average volume of 20,901,848. The stock has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $3.36. The company has a market capitalization of $1.27 billion, a PE ratio of 14.25 and a beta of 2.28. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.47. fuboTV Inc. has a 1 year low of $1.21 and a 1 year high of $6.45.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FUBO. Wedbush reaffirmed an "outperform" rating and issued a $6.00 price objective (up previously from $5.00) on shares of fuboTV in a research note on Wednesday, July 30th. Needham & Company LLC lifted their price objective on shares of fuboTV from $3.00 to $4.25 and gave the stock a "buy" rating 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. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4.63.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FUBO. The Manufacturers Life Insurance Company increased its stake in 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. USAdvisors Wealth Management LLC increased its stake in fuboTV by 2.7% in the 2nd quarter. USAdvisors Wealth Management LLC now owns 114,031 shares of the company's stock valued at $439,000 after buying an additional 3,000 shares during the period. Principal Financial Group Inc. increased its stake in fuboTV by 23.3% in the 1st quarter. Principal Financial Group Inc. now owns 22,468 shares of the company's stock valued at $66,000 after buying an additional 4,239 shares during the period. MetLife Investment Management LLC increased its stake in fuboTV by 3.0% in the 1st quarter. MetLife Investment Management LLC now owns 207,550 shares of the company's stock valued at $606,000 after buying an additional 6,038 shares during the period. Finally, Uhlmann Price Securities LLC increased its stake in fuboTV by 12.9% in the 2nd quarter. Uhlmann Price Securities LLC now owns 57,000 shares of the company's stock valued at $220,000 after buying an additional 6,500 shares during the period. 39.31% of the stock is owned by hedge funds and other institutional investors.

fuboTV Company 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.

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