FuboTV (NYSE:FUBO) Shares Down 10.6% After Insider Selling

FuboTV Inc. (NYSE:FUBO)’s share price fell 10.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $4.51 and last traded at $4.57. 14,676,440 shares were traded during mid-day trading, a decline of 93% from the average session volume of 196,705,625 shares. The stock had previously closed at $5.11.

Specifically, COO Alberto Horihuela sold 403,847 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total value of $2,435,197.41. Following the completion of the transaction, the chief operating officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value 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 approximately $1,737,553.17. The trade was a 80.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

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

FuboTV Price Performance

The stock has a fifty day simple moving average of $1.97 and a 200-day simple moving average of $1.68. The company has a market capitalization of $1.27 billion, a PE ratio of -5.69 and a beta of 1.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Institutional Trading of FuboTV

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