FuboTV (NYSE:FUBO) Trading 7.6% Higher - Here's Why

FuboTV Inc. (NYSE:FUBO - Get Free Report) shares traded up 7.6% during trading on Thursday . The stock traded as high as $3.90 and last traded at $3.90. 10,214,032 shares changed hands during trading, a decline of 91% from the average session volume of 118,607,273 shares. The stock had previously closed at $3.62.

Analysts Set New Price Targets

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

FuboTV Stock Performance

The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -6.02 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. The firm has a 50-day moving average of $2.35 and a 200-day moving average of $1.82.

Insider Buying and Selling at FuboTV

In related news, CFO John Janedis sold 74,326 shares of the business'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 $109,259.22. Following the completion of the transaction, the chief financial officer now directly owns 76,766 shares in the company, valued at $112,846.02. The trade was a 49.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Gandler sold 1,425,888 shares of the stock in a transaction dated Monday, January 6th. The stock was 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 directly owns 346,817 shares in the company, valued at $1,737,553.17. This represents a 80.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,957,407 shares of company stock worth $9,793,039. 7.00% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On FuboTV

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