FuboTV (NYSE:FUBO) Stock Price Up 7.6% - Here's Why

FuboTV Inc. (NYSE:FUBO - Get Free Report)'s share price traded up 7.6% during trading on Thursday . The stock traded as high as $3.90 and last traded at $3.90. 10,214,032 shares were traded during mid-day trading, a decline of 91% from the average session volume of 118,607,273 shares. The stock had previously closed at $3.62.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a "neutral" rating and set a $4.75 target price (up from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3.43.

FuboTV Price Performance

The stock's 50-day simple moving average is $2.25 and its two-hundred day simple moving average is $1.78. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -5.96 and a beta of 1.78. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Activity at FuboTV

In other FuboTV news, COO Alberto Horihuela sold 5,868 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $5.98, for a total value of $35,090.64. Following the transaction, the chief operating officer now directly owns 1,446,730 shares in the company, valued at $8,651,445.40. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Janedis sold 74,326 shares of FuboTV stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total transaction of $109,259.22. Following the sale, the chief financial officer now directly owns 76,766 shares in the company, valued at approximately $112,846.02. The trade was a 49.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,957,407 shares of company stock valued at $9,793,039. Corporate insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On FuboTV

A number of institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP boosted its holdings in FuboTV by 114.1% during the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company's stock valued at $10,383,000 after acquiring an additional 4,461,707 shares during the period. Geode Capital Management LLC boosted its stake in shares of FuboTV by 6.4% in the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company's stock valued at $10,087,000 after purchasing an additional 425,906 shares during the period. State Street Corp grew its holdings in shares of FuboTV by 1.9% in the third quarter. State Street Corp now owns 6,934,875 shares of the company's stock valued at $9,848,000 after purchasing an additional 132,167 shares in the last quarter. Millennium Management LLC increased its stake in FuboTV by 132.6% during the 2nd quarter. Millennium Management LLC now owns 4,810,529 shares of the company's stock worth $5,965,000 after buying an additional 2,742,780 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in FuboTV by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company's stock worth $3,676,000 after buying an additional 200,154 shares in the last quarter. 39.31% of the stock is currently owned by institutional investors and hedge funds.

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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