Wedbush Reiterates “Outperform” Rating for FuboTV (NYSE:FUBO)

Wedbush restated their outperform rating on shares of FuboTV (NYSE:FUBO) in a research note issued to investors on Friday,RTT News reports. They currently have a $6.40 price objective on the stock.

FUBO has been the topic of a number of other research reports. Roth Mkm reaffirmed a “neutral” rating and set a $4.75 target price (up previously from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Huber Research raised shares of FuboTV to a “strong-buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, FuboTV has an average rating of “Moderate Buy” and an average price target of $3.71.

FuboTV Trading Down 13.2 %

Shares of FUBO stock opened at $3.06 on Friday. FuboTV has a 1 year low of $1.10 and a 1 year high of $6.45. The firm’s fifty day simple moving average is $3.53 and its 200 day simple moving average is $2.26. The firm has a market capitalization of $1.02 billion, a P/E ratio of -4.56 and a beta of 1.99. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Activity

In other news, CEO David Gandler sold 1,425,888 shares of the business’s 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $2,435,197.41. Following the completion of the sale, the chief operating officer now owns 1,449,751 shares in the company, valued at $8,741,998.53. This represents a 21.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,861,426 shares of company stock worth $9,721,411. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUBO. United Advisor Group LLC acquired a new position in FuboTV during the 3rd quarter worth about $26,000. Xponance Inc. lifted its position in FuboTV by 19.1% during the 4th quarter. Xponance Inc. now owns 23,002 shares of the company’s stock worth $29,000 after buying an additional 3,689 shares in the last quarter. Raymond James Financial Inc. acquired a new position in FuboTV during the 4th quarter worth about $35,000. Balyasny Asset Management L.P. acquired a new position in FuboTV during the 4th quarter worth about $36,000. Finally, EWG Elevate Inc. lifted 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 buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company’s stock.

About FuboTV

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.