FuboTV (NYSE:FUBO) Shares Up 6.2% Following Analyst Upgrade

FuboTV Inc. (NYSE:FUBO)’s stock price traded up 6.2% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $2.00 to $3.50. Needham & Company LLC currently has a buy rating on the stock. FuboTV traded as high as $2.98 and last traded at $3.02. 15,380,051 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 57,433,832 shares. The stock had previously closed at $2.84.

FUBO has been the subject of several other reports. Huber Research upgraded FuboTV to a “strong-buy” rating in a research note on Friday, January 31st. Wedbush reissued an “outperform” rating and issued a $6.40 price target on shares of FuboTV in a report on Friday, February 28th. Finally, Roth Mkm restated a “neutral” rating and set a $4.75 price objective (up from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.39.

Insider Buying and Selling at FuboTV

In related news, CFO John Janedis sold 25,823 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $4.16, for a total transaction of $107,423.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alberto Horihuela sold 403,847 shares of FuboTV stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $6.03, for a total value of $2,435,197.41. Following the transaction, the chief operating officer now directly owns 1,449,751 shares in the company, valued at approximately $8,741,998.53. The trade was a 21.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,861,426 shares of company stock worth $9,721,411 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Institutional Trading of FuboTV

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in FuboTV by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 18,676,396 shares of the company’s stock worth $23,532,000 after buying an additional 1,377,663 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of FuboTV by 45.1% during the 4th quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company’s stock worth $5,449,000 after acquiring an additional 1,344,956 shares in the last quarter. Barclays PLC grew its holdings in shares of FuboTV by 121.3% in the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock worth $1,784,000 after acquiring an additional 688,625 shares during the last quarter. Two Sigma Investments LP raised its position in shares of FuboTV by 4,635.3% during the fourth quarter. Two Sigma Investments LP now owns 512,591 shares of the company’s stock worth $646,000 after purchasing an additional 501,766 shares during the period. Finally, Northern Trust Corp raised its position in shares of FuboTV by 16.9% during the fourth quarter. Northern Trust Corp now owns 2,999,809 shares of the company’s stock worth $3,780,000 after purchasing an additional 434,406 shares during the period. 39.31% of the stock is owned by institutional investors and hedge funds.

FuboTV Stock Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $1.00 billion, a PE ratio of -4.49 and a beta of 1.99. The firm has a fifty day moving average price of $3.60 and a 200 day moving average price of $2.30.

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.