FuboTV (NYSE:FUBO) Shares Gap Down – What’s Next?

FuboTV Inc. (NYSE:FUBO)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.46, but opened at $4.63. FuboTV shares last traded at $4.71, with a volume of 33,341,018 shares changing hands.

Analysts Set New Price Targets

Separately, Roth Mkm reissued a “neutral” rating and issued a $4.75 target price (up previously from $2.00) on shares of FuboTV in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, FuboTV presently has a consensus rating of “Hold” and an average price target of $3.43.

FuboTV Stock Performance

The business’s 50-day moving average is $1.65 and its 200 day moving average is $1.55. 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 company has a market cap of $1.88 billion, a PE ratio of -8.42 and a beta of 1.78.

Insider Activity

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

Hedge Funds Weigh In On FuboTV

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP boosted its position in shares of FuboTV by 114.1% in the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock worth $10,383,000 after purchasing an additional 4,461,707 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of FuboTV by 6.4% during the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after buying an additional 425,906 shares during the last quarter. State Street Corp boosted its stake in FuboTV by 1.9% during the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after purchasing an additional 132,167 shares during the last quarter. Millennium Management LLC boosted its position in shares of FuboTV by 132.6% during the second quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock valued at $5,965,000 after buying an additional 2,742,780 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in FuboTV by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock worth $3,676,000 after buying an additional 200,154 shares in the last quarter. 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.