FuboTV (NYSE:FUBO) Shares Down 10.6% on Insider Selling

FuboTV Inc. (NYSE:FUBO)’s share price fell 10.6% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $4.51 and last traded at $4.57. 14,676,440 shares traded hands during trading, a decline of 93% from the average session volume of 196,705,625 shares. The stock had previously closed at $5.11.

Specifically, COO Alberto Horihuela sold 403,847 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total transaction of $2,435,197.41. Following the sale, the chief operating officer now owns 1,449,751 shares of the company’s stock, valued at approximately $8,741,998.53. This represents a 21.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Gandler sold 1,425,888 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 346,817 shares of the company’s stock, valued at approximately $1,737,553.17. The trade was a 80.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated a “neutral” rating and issued a $4.75 price objective (up previously from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.43.

FuboTV Trading Down 12.1 %

The stock has a 50 day moving average of $1.93 and a 200 day moving average of $1.66. 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 cap of $1.50 billion, a P/E ratio of -6.70 and a beta of 1.78.

Hedge Funds Weigh In On FuboTV

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP boosted its stake in 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 buying an additional 4,461,707 shares in the last quarter. Geode Capital Management LLC boosted its position in FuboTV by 6.4% during the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after buying an additional 425,906 shares during the period. State Street Corp grew its stake in shares of FuboTV by 1.9% during the third quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after buying an additional 132,167 shares during the last quarter. Millennium Management LLC increased its holdings in shares of FuboTV by 132.6% in the second quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock worth $5,965,000 after buying an additional 2,742,780 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of FuboTV by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock valued at $3,676,000 after acquiring an additional 200,154 shares during the last quarter. 39.31% of the stock is currently owned by institutional investors.

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.