fuboTV (NYSE:FUBO) Shares Down 5.2% - What's Next?

Key Points

• fuboTV's shares fell 5.2% on Tuesday, trading at a low of $3.91, with a significant decline in trading volume, down 85% from the average session.
• Analyst ratings vary: Needham & Company LLC increased its target price to $4.25 while Wall Street Zen downgraded it to a "hold," reflecting mixed market sentiment with an average price target of $4.63.
• Insider trading activity included significant sales by Director Laura Diane Onopchenko and Chairman Edgar Bronfman, Jr., indicating a decrease in their holdings and raising questions about their confidence in the stock.

fuboTV Inc. (NYSE:FUBO - Get Free Report)'s share price traded down 5.2% on Tuesday . The company traded as low as $3.91 and last traded at $3.91. 3,770,071 shares were traded during trading, a decline of 85% from the average session volume of 25,768,420 shares. The stock had previously closed at $4.12.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC increased their target price on shares of fuboTV from $3.00 to $4.25 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen lowered shares of fuboTV from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Wedbush restated an "outperform" rating and issued a $6.00 price objective (up from $5.00) on shares of fuboTV in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $4.63.

fuboTV Stock Down 2.1%

The company has a market cap of $1.38 billion, a P/E ratio of 15.52 and a beta of 2.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.69 and a quick ratio of 0.69. The company's 50-day moving average is $3.62 and its two-hundred day moving average is $3.30.

Insider Activity

In related news, Director Laura Diane Onopchenko sold 100,000 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 283,070 shares of the company's stock, valued at $1,109,634.40. This trade represents a 26.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $3.62, for a total transaction of $216,092.28. Following the sale, the chairman directly owned 8,673 shares of the company's stock, valued at $31,396.26. This trade represents a 87.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 426,849 shares of company stock worth $1,660,612 over the last three months. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On fuboTV

A number of hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in fuboTV in the 1st quarter worth $8,930,000. Vanguard Group Inc. boosted its holdings in fuboTV by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company's stock worth $61,742,000 after buying an additional 2,468,067 shares during the period. Jump Financial LLC boosted its holdings in fuboTV by 189.6% in the 2nd quarter. Jump Financial LLC now owns 3,721,263 shares of the company's stock worth $14,364,000 after buying an additional 2,436,479 shares during the period. Two Sigma Investments LP boosted its holdings in shares of fuboTV by 4,635.3% during the 4th quarter. Two Sigma Investments LP now owns 512,591 shares of the company's stock valued at $646,000 after purchasing an additional 501,766 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of fuboTV by 16.9% during the 4th quarter. Northern Trust Corp now owns 2,999,809 shares of the company's stock valued at $3,780,000 after purchasing an additional 434,406 shares during the last quarter. 39.31% of the stock is currently 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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