Edgar Bronfman, Jr. Sells 59,694 Shares of fuboTV (NYSE:FUBO) 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 the business'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 in the company, valued at approximately $31,396.26. The trade was a 87.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

fuboTV Stock Performance

Shares of FUBO traded down $0.2450 during trading hours on Tuesday, hitting $3.5250. The company had a trading volume of 10,695,921 shares, compared to its average volume of 26,928,324. The business has a fifty day moving average of $3.54 and a 200-day moving average of $3.34. 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 cap of $1.21 billion, a price-to-earnings ratio of 13.56 and a beta of 2.28. fuboTV Inc. has a 12 month low of $1.21 and a 12 month high of $6.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of fuboTV during the first quarter worth $30,000. Wealthcare Advisory Partners LLC acquired a new stake in fuboTV during the 1st quarter worth about $34,000. Raymond James Financial Inc. bought a new position in shares of fuboTV in the 4th quarter worth about $35,000. Balyasny Asset Management L.P. bought a new position in shares of fuboTV in the 4th quarter worth about $36,000. Finally, Tripletail Wealth Management LLC acquired a new position in shares of fuboTV in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 39.31% of the company's stock.

Analyst Upgrades and Downgrades

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

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.