FuboTV (NYSE:FUBO) Shares Gap Down After Insider Selling

FuboTV Inc. (NYSE:FUBO) shares gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $4.45, but opened at $4.31. FuboTV shares last traded at $4.50, with a volume of 8,713,087 shares traded.

Specifically, COO Alberto Horihuela sold 5,868 shares of the 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 completion of the sale, the chief operating officer now directly owns 1,446,730 shares of the company’s stock, valued at approximately $8,651,445.40. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Alberto Horihuela sold 403,847 shares of FuboTV stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 1,449,751 shares in the company, valued at $8,741,998.53. The trade was a 21.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO David Gandler sold 1,425,888 shares of the 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 sale, the chief executive officer now owns 346,817 shares in the company, valued at $1,737,553.17. This represents a 80.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

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

FuboTV Stock Performance

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 stock has a market capitalization of $1.31 billion, a PE ratio of -5.87 and a beta of 1.78. The business’s 50-day moving average is $1.97 and its two-hundred day moving average is $1.68.

Institutional Trading of FuboTV

Several hedge funds have recently made changes to their positions in the company. United Advisor Group LLC purchased a new position in FuboTV during the third quarter worth about $26,000. Hibernia Wealth Partners LLC acquired a new position in FuboTV during the 3rd quarter worth approximately $27,000. EWG Elevate Inc. increased its position in FuboTV by 50.0% during the 4th quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock worth $38,000 after purchasing an additional 10,000 shares during the period. Algert Global LLC purchased a new position in shares of FuboTV during the 2nd quarter worth approximately $37,000. Finally, Apollon Wealth Management LLC lifted its holdings in shares of FuboTV by 41.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock valued at $61,000 after buying an additional 12,431 shares during the period. Institutional investors and hedge funds 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.