fuboTV (NYSE:FUBO) Issues Earnings Results

Key Points

• fuboTV reported an earnings per share (EPS) of ($0.02) for the quarter, with revenue reaching $371.30 million, surpassing analyst expectations of $353.53 million.
• The company's stock experienced a 2.0% increase during trading, reaching $3.78, with institutional investors holding 39.31% of the company's stock.
• Equities analysts have given fuboTV an average rating of "Moderate Buy" with a consensus price target of $4.63, while also noting that insider directors recently sold portions of their shares.

fuboTV (NYSE:FUBO - Get Free Report) issued its earnings results on Friday. The company reported ($0.02) EPS for the quarter, Briefing.com reports. fuboTV had a net margin of 5.50% and a negative return on equity of 23.49%. The firm had revenue of $371.30 million during the quarter, compared to the consensus estimate of $353.53 million. During the same period in the previous year, the company posted ($0.04) EPS. The firm's revenue for the quarter was down 2.8% on a year-over-year basis.

fuboTV Stock Up 2.9%

FUBO traded up $0.11 during trading hours on Wednesday, hitting $3.75. 4,408,224 shares of the company's stock were exchanged, compared to its average volume of 27,231,791. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 14.40 and a beta of 2.28. fuboTV has a 1-year low of $1.21 and a 1-year high of $6.45. The stock's 50-day moving average is $3.52 and its two-hundred day moving average is $3.35. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.48.

Insider Activity at fuboTV

In related news, Director Ignacio Figueras sold 66,061 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $4.26, for a total value of $281,419.86. Following the completion of the transaction, the director owned 402,009 shares of the company's stock, valued at approximately $1,712,558.34. This trade represents a 14.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Diane Onopchenko sold 100,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $3.92, for a total transaction of $392,000.00. Following the completion of the transaction, the director directly owned 283,070 shares of the company's stock, valued at approximately $1,109,634.40. This trade represents a 26.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,400 shares of company stock valued at $985,323. Corporate insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FUBO. Focus Partners Wealth bought a new position in fuboTV in the first quarter valued at $30,000. Integrated Wealth Concepts LLC acquired a new stake in fuboTV in the first quarter valued at $92,000. Prudential Financial Inc. lifted its stake in fuboTV by 83.2% in the second quarter. Prudential Financial Inc. now owns 41,625 shares of the company's stock valued at $161,000 after acquiring an additional 18,900 shares during the last quarter. Creative Planning lifted its stake in fuboTV by 17.3% in the second quarter. Creative Planning now owns 106,020 shares of the company's stock valued at $409,000 after acquiring an additional 15,602 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in fuboTV by 8.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 197,353 shares of the company's stock valued at $576,000 after acquiring an additional 14,748 shares during the last quarter. Institutional investors own 39.31% of the company's stock.

Wall Street Analyst Weigh In

FUBO has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of fuboTV from a "buy" rating to a "hold" rating in a research note on Sunday. Needham & Company LLC increased their price objective on shares of fuboTV from $3.00 to $4.25 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Wedbush reissued an "outperform" rating and set a $6.00 price objective (up previously from $5.00) on shares of fuboTV in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.63.

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.