fuboTV (NYSE:FUBO) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• fuboTV has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analysts' sentiment towards the stock.
• Despite the downgrade, Wedbush maintained an "outperform" rating with a target price increase to $6.00, while Needham & Company raised their target price to $4.25 with a "buy" rating.
• Recent insider trading shows a notable decrease in ownership as directors sold a combined total of 241,400 shares, raising concerns about investor confidence.

Wall Street Zen lowered shares of fuboTV (NYSE:FUBO - Free Report) from a buy rating to a hold rating in a research note published on Sunday morning.

A number of other brokerages also recently commented on FUBO. Wedbush restated 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. Needham & Company LLC raised their price objective on shares of fuboTV from $3.00 to $4.25 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $4.63.

fuboTV Stock Up 5.9%

Shares of NYSE:FUBO traded up $0.22 during trading on Friday, hitting $3.86. 14,023,288 shares of the company were exchanged, compared to its average volume of 27,300,580. The firm's 50 day moving average price is $3.52 and its 200-day moving average price is $3.35. fuboTV has a 12-month low of $1.21 and a 12-month high of $6.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $1.32 billion, a P/E ratio of 14.83 and a beta of 2.28.

Insider Transactions at fuboTV

In other news, Director Ignacio Figueras sold 66,061 shares of fuboTV stock in a transaction that occurred 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 transaction, the director owned 402,009 shares of the company's stock, valued at $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 SEC, which can be accessed through this hyperlink. Also, Director Laura Diane Onopchenko sold 100,000 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,400 shares of company stock worth $985,323 in the last 90 days. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On fuboTV

A number of institutional investors have recently made changes to their positions in FUBO. Focus Partners Wealth acquired a new position in shares of fuboTV in the first quarter valued at about $30,000. Wealthcare Advisory Partners LLC bought a new position in shares of fuboTV during the first quarter valued at $34,000. Cresset Asset Management LLC acquired a new position in shares of fuboTV in the first quarter worth approximately $38,000. Fee Only Financial Planning L.C. acquired a new stake in fuboTV during the 2nd quarter worth about $51,000. Finally, Carnegie Investment Counsel bought a new position in fuboTV during the second quarter worth $51,000. 39.31% of the stock is 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.