HighTower Advisors LLC Reduces Stock Position in FuboTV Inc. (NYSE:FUBO)

HighTower Advisors LLC lessened its stake in FuboTV Inc. (NYSE:FUBO) by 74.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,906 shares of the company’s stock after selling 750,625 shares during the quarter. HighTower Advisors LLC owned about 0.08% of FuboTV worth $320,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FUBO. Geode Capital Management LLC grew its holdings in shares of FuboTV by 6.4% in the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after purchasing an additional 425,906 shares during the period. State Street Corp grew its stake in shares of FuboTV by 1.9% in the 3rd 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of FuboTV by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,766,631 shares of the company’s stock worth $3,486,000 after buying an additional 177,710 shares during the last quarter. Barclays PLC boosted its stake in FuboTV by 121.3% during the third quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock worth $1,784,000 after buying an additional 688,625 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of FuboTV by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 909,345 shares of the company’s stock valued at $1,146,000 after acquiring an additional 61,995 shares during the last quarter. Hedge funds and other institutional investors own 39.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FUBO shares. Needham & Company LLC increased their price objective on shares of FuboTV from $2.00 to $3.50 and gave the stock a “buy” rating in a research report on Monday, March 3rd. UBS Group set a $3.50 price target on FuboTV in a research report on Monday, March 3rd. Huber Research raised FuboTV to a “strong-buy” rating in a research note on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $6.40 target price on shares of FuboTV in a research report on Friday, February 28th. Finally, Roth Mkm reissued a “neutral” rating and issued a $4.75 price objective (up previously from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Three 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, FuboTV currently has an average rating of “Moderate Buy” and an average target price of $4.21.

FuboTV Stock Performance

Shares of FuboTV stock opened at $2.97 on Wednesday. The business has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $2.48. The company has a market cap of $1.01 billion, a PE ratio of -4.43 and a beta of 2.02. FuboTV Inc. has a one year low of $1.10 and a one year 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.

Insider Transactions at FuboTV

In other news, CEO David Gandler sold 1,425,888 shares of the 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Alberto Horihuela sold 5,868 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $5.98, for a total value of $35,090.64. Following the sale, the chief operating officer now owns 1,446,730 shares of the company’s stock, valued at approximately $8,651,445.40. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,861,426 shares of company stock valued at $9,721,411. Insiders own 7.00% of the company’s stock.

FuboTV 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.