Wedbush Reiterates “Outperform” Rating for FuboTV (NYSE:FUBO)

FuboTV (NYSE:FUBO)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They currently have a $6.40 price target on the stock. Wedbush’s price objective suggests a potential upside of 109.49% from the company’s previous close.

Several other equities analysts have also commented on FUBO. Huber Research raised FuboTV to a “strong-buy” rating in a research report on Friday, January 31st. Roth Mkm reissued a “neutral” rating and set a $4.75 price objective (up previously from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.71.

FuboTV Stock Performance

NYSE:FUBO opened at $3.06 on Friday. The firm has a market cap of $1.02 billion, a PE ratio of -4.56 and a beta of 1.99. FuboTV has a fifty-two week low of $1.10 and a fifty-two week high of $6.45. 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 business has a 50 day moving average price of $3.53 and a 200-day moving average price of $2.27.

Insider Activity

In related news, CEO David Gandler sold 1,425,888 shares of FuboTV stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.01, for a total value of $7,143,698.88. Following the completion of the sale, the chief executive officer now directly owns 346,817 shares in the company, valued at approximately $1,737,553.17. This trade represents a 80.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Alberto Horihuela sold 5,868 shares of FuboTV stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $5.98, for a total value of $35,090.64. Following the completion of the sale, the chief operating officer now owns 1,446,730 shares of the company’s stock, valued at $8,651,445.40. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,861,426 shares of company stock worth $9,721,411 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FuboTV

Several large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in FuboTV by 79.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 740,780 shares of the company’s stock worth $933,000 after purchasing an additional 327,212 shares during the last quarter. Two Sigma Investments LP boosted its position in FuboTV by 4,635.3% in 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 last quarter. State of Wyoming boosted its position in FuboTV by 125.5% in the fourth quarter. State of Wyoming now owns 233,031 shares of the company’s stock worth $294,000 after purchasing an additional 129,699 shares during the last quarter. ProShare Advisors LLC boosted its position in FuboTV by 17.6% in the fourth quarter. ProShare Advisors LLC now owns 220,923 shares of the company’s stock worth $278,000 after purchasing an additional 33,035 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in FuboTV by 13.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,605 shares of the company’s stock worth $230,000 after purchasing an additional 21,051 shares during the last quarter. 39.31% of the stock is currently owned by institutional investors.

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.