FuboTV (NYSE:FUBO) Trading 10.2% Higher – Here’s Why

Shares of FuboTV Inc. (NYSE:FUBO) traded up 10.2% on Monday . The company traded as high as $1.60 and last traded at $1.56. 13,889,733 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 10,601,400 shares. The stock had previously closed at $1.42.

Wall Street Analysts Forecast Growth

FUBO has been the subject of a number of research reports. Barrington Research reaffirmed a “market perform” rating on shares of FuboTV in a report on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and set a $2.00 price objective on shares of FuboTV in a research note on Monday, August 19th. Finally, Seaport Res Ptn cut shares of FuboTV from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FuboTV has an average rating of “Hold” and a consensus price target of $2.88.

FuboTV Trading Up 2.7 %

The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market cap of $501.14 million, a PE ratio of -2.24 and a beta of 1.76. The company has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.45.

Insiders Place Their Bets

In other FuboTV news, COO Alberto Horihuela sold 47,478 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total transaction of $69,792.66. Following the completion of the transaction, the chief operating officer now directly owns 1,471,325 shares in the company, valued at approximately $2,162,847.75. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John Janedis sold 74,326 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total transaction of $109,259.22. Following the transaction, the chief financial officer now directly owns 76,766 shares in the company, valued at approximately $112,846.02. The trade was a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. United Advisor Group LLC acquired a new stake in FuboTV during the 3rd quarter worth $26,000. Hibernia Wealth Partners LLC purchased a new stake in shares of FuboTV in the 3rd quarter valued at approximately $27,000. Public Employees Retirement System of Ohio acquired a new stake in FuboTV during the first quarter worth $44,000. Algert Global LLC acquired a new stake in FuboTV during the second quarter worth $37,000. Finally, Apollon Wealth Management LLC raised its position in FuboTV by 41.2% in the third quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock valued at $61,000 after purchasing an additional 12,431 shares during the period. Institutional investors and hedge funds own 39.31% of the company’s stock.

About FuboTV

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company’s platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.