fuboTV Sees Unusually Large Options Volume (NYSE:FUBO)

Key Points

• fuboTV experienced a significant increase in options trading, with investors purchasing 62,855 call options, marking a 46% rise from the average volume.
• Insider activity showed notable selling, with Director Laura Diane Onopchenko selling 100,000 shares and Chairman Edgar Bronfman Jr. selling 59,694 shares, reflecting a reduction in their ownership positions.
• Institutional investments are increasing, with firms like Vanguard Group and Jump Financial significantly expanding their stakes in fuboTV, highlighting growing interest from large investors.

fuboTV Inc. (NYSE:FUBO - Get Free Report) saw unusually large options trading activity on Tuesday. Stock investors purchased 62,855 call options on the stock. This is an increase of 46% compared to the average volume of 42,905 call options.

Insider Buying and Selling at fuboTV

In related news, Director Laura Diane Onopchenko sold 100,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $3.92, for a total value of $392,000.00. Following the completion of the sale, the director owned 283,070 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Edgar Bronfman, Jr. sold 59,694 shares of fuboTV stock in a transaction dated 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 of the company's stock, valued at approximately $31,396.26. The trade was a 87.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 426,849 shares of company stock valued at $1,660,612. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in fuboTV by 13.2% in the first 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 last quarter. Jump Financial LLC raised its position in fuboTV by 189.6% during the second quarter. Jump Financial LLC now owns 3,721,263 shares of the company's stock valued at $14,364,000 after acquiring an additional 2,436,479 shares in the last quarter. Nuveen LLC bought a new position in fuboTV during the first quarter valued at approximately $8,930,000. Bank of New York Mellon Corp raised its position in fuboTV by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 983,346 shares of the company's stock valued at $2,871,000 after acquiring an additional 74,001 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in fuboTV by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,262 shares of the company's stock valued at $2,454,000 after acquiring an additional 99,482 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company's stock.

fuboTV Price Performance

NYSE FUBO traded down $0.11 on Tuesday, reaching $4.46. The company's stock had a trading volume of 9,826,702 shares, compared to its average volume of 25,128,309. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $1.53 billion, a PE ratio of 17.06 and a beta of 2.36. fuboTV has a twelve month low of $1.21 and a twelve month high of $6.45. The firm's 50 day moving average is $3.76 and its two-hundred day moving average is $3.37.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FUBO. Wedbush reaffirmed an "outperform" rating and issued a $6.00 price target (up from $5.00) on shares of fuboTV in a report on Wednesday, July 30th. 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 note on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of fuboTV from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average 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.

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