Stock Traders Purchase High Volume of Call Options on fuboTV (NYSE:FUBO)

Key Points

• fuboTV experienced a significant spike in options trading, with 71,664 call options purchased on Friday, marking a 145% increase over its average daily volume.
• Several institutional investors increased their stakes in fuboTV, with notable purchases totaling around $36,000 by Balyasny Asset Management and other hedge funds throughout the first and fourth quarters.
• fuboTV's stock rose by 1.5% on Friday, trading at $3.66, with a market cap of $1.25 billion and a consensus rating of "Moderate Buy" from analysts.
• Recent analyst reports varied, with Wedbush upgrading fuboTV to a "strong-buy," while Needham lowered its target price from $3.35 to $3.00.

fuboTV Inc. (NYSE:FUBO - Get Free Report) was the recipient of some unusual options trading activity on Friday. Stock traders bought 71,664 call options on the stock. This represents an increase of 145% compared to the typical daily volume of 29,234 call options.

Institutional Investors Weigh In On fuboTV

Several institutional investors and hedge funds have recently bought and sold shares of the company. Uhlmann Price Securities LLC lifted its position in fuboTV by 12.9% during the second quarter. Uhlmann Price Securities LLC now owns 57,000 shares of the company's stock worth $220,000 after purchasing an additional 6,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of fuboTV in the second quarter worth about $262,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of fuboTV by 37.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,090 shares of the company's stock worth $93,000 after acquiring an additional 6,520 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of fuboTV by 29.5% in the second quarter. KLP Kapitalforvaltning AS now owns 69,400 shares of the company's stock worth $268,000 after acquiring an additional 15,800 shares during the last quarter. Finally, USAdvisors Wealth Management LLC lifted its holdings in shares of fuboTV by 2.7% in the second quarter. USAdvisors Wealth Management LLC now owns 114,031 shares of the company's stock worth $439,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 39.31% of the company's stock.

fuboTV Stock Performance

Shares of FUBO stock traded down $0.02 on Tuesday, hitting $3.51. The company's stock had a trading volume of 56,533,503 shares, compared to its average volume of 27,618,350. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 0.70. The stock's 50 day moving average is $3.44 and its 200-day moving average is $3.36. fuboTV has a fifty-two week low of $1.15 and a fifty-two week high of $6.45. The company has a market capitalization of $1.20 billion, a PE ratio of 17.57 and a beta of 2.22.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC decreased their price objective on shares of fuboTV from $3.35 to $3.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wedbush upgraded shares of fuboTV to a "strong-buy" rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, fuboTV has a consensus rating of "Moderate Buy" and a consensus price target of $4.06.

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.