Investors Buy Large Volume of Call Options on FuboTV (NYSE:FUBO)

FuboTV Inc. (NYSE:FUBO) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 71,208 call options on the company. This is an increase of approximately 66% compared to the average volume of 42,964 call options.

Insiders Place Their Bets

In other news, CEO David Gandler sold 1,425,888 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.01, for a total transaction of $7,143,698.88. Following the transaction, the chief executive officer now owns 346,817 shares in the company, valued at approximately $1,737,553.17. This represents a 80.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alberto Horihuela sold 5,868 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $5.98, for a total transaction of $35,090.64. Following the transaction, the chief operating officer now owns 1,446,730 shares in the company, valued at $8,651,445.40. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,957,407 shares of company stock valued at $9,793,039. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FUBO. Marshall Wace LLP grew its holdings in shares of FuboTV by 114.1% in the second quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock worth $10,383,000 after purchasing an additional 4,461,707 shares during the last quarter. Geode Capital Management LLC grew its holdings in FuboTV by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock worth $10,087,000 after acquiring an additional 425,906 shares in the last quarter. State Street Corp grew its holdings in FuboTV by 1.9% during the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company’s stock worth $9,848,000 after acquiring an additional 132,167 shares in the last quarter. Millennium Management LLC grew its holdings 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 acquiring an additional 2,742,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 acquiring an additional 200,154 shares in the last quarter. Institutional investors own 39.31% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm restated a “neutral” rating and set a $4.75 price target (up from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, FuboTV has a consensus rating of “Hold” and a consensus target price of $3.43.

FuboTV Price Performance

FUBO stock opened at $3.69 on Wednesday. FuboTV has a one year low of $1.10 and a one year high of $6.45. The company’s fifty day moving average price is $2.17 and its 200-day moving average price is $1.75. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $1.23 billion, a PE ratio of -5.50 and a beta of 1.78.

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.