fuboTV (NYSE:FUBO) Shares Down 11.9% – Here’s Why

fuboTV Inc. (NYSE:FUBO)’s share price traded down 11.9% on Monday . The company traded as low as $3.23 and last traded at $3.3290. 23,630,689 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 23,779,814 shares. The stock had previously closed at $3.78.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen cut fuboTV from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a research report on Wednesday, October 8th. Wedbush restated an “outperform” rating and issued a $6.00 price target (up previously from $5.00) on shares of fuboTV in a research report on Wednesday, July 30th. Finally, Needham & Company LLC boosted their price target on fuboTV from $3.00 to $4.25 and gave the company a “buy” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, fuboTV presently has an average rating of “Moderate Buy” and a consensus price target of $4.63.

fuboTV Price Performance

The stock has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $3.55. The company has a market cap of $1.19 billion, a PE ratio of 13.29 and a beta of 2.38. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.47.

Insider Activity at fuboTV

In other news, Director Daniel V. Leff sold 66,061 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $3.68, for a total transaction of $243,104.48. Following the sale, the director owned 390,427 shares of the company’s stock, valued at $1,436,771.36. The trade was a 14.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $3.62, for a total value of $216,092.28. Following the sale, the chairman directly owned 8,673 shares in the company, valued at $31,396.26. This trade represents a 87.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 185,449 shares of company stock worth $675,289 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On fuboTV

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in fuboTV by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company’s stock valued at $61,742,000 after buying an additional 2,468,067 shares in the last quarter. Jump Financial LLC lifted its stake in fuboTV by 189.6% in the 2nd quarter. Jump Financial LLC now owns 3,721,263 shares of the company’s stock valued at $14,364,000 after buying an additional 2,436,479 shares in the last quarter. Nuveen LLC purchased a new stake in fuboTV in the 1st quarter valued at approximately $8,930,000. Bank of New York Mellon Corp lifted its stake in fuboTV by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 983,346 shares of the company’s stock valued at $2,871,000 after buying an additional 74,001 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in fuboTV by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,262 shares of the company’s stock valued at $2,454,000 after buying an additional 99,482 shares in the last quarter. Hedge funds and other institutional investors own 39.31% of the company’s stock.

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.