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

Shares of FuboTV Inc. (NYSE:FUBO - Get Free Report) dropped 10.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $4.51 and last traded at $4.57. Approximately 14,676,440 shares were traded during trading, a decline of 93% from the average daily volume of 196,705,625 shares. The stock had previously closed at $5.11.

Specifically, COO Alberto Horihuela sold 403,847 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $6.03, for a total value of $2,435,197.41. Following the completion of the sale, the chief operating officer now directly owns 1,449,751 shares of the company's stock, valued at $8,741,998.53. This trade represents a 21.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief executive officer now owns 346,817 shares in the company, valued at $1,737,553.17. The trade was a 80.44 % decrease in their position. The disclosure for this sale can be found here.

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Analysts Set New Price Targets

Separately, Roth Mkm reiterated a "neutral" rating and set a $4.75 price objective (up previously from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FuboTV has a consensus rating of "Hold" and a consensus target price of $3.43.

FuboTV Trading Down 12.1 %

The stock has a fifty day moving average of $1.93 and a 200-day moving average of $1.66. The company has a market cap of $1.50 billion, a PE ratio of -6.70 and a beta of 1.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. United Advisor Group LLC bought a new stake in FuboTV during the 3rd quarter valued at $26,000. Hibernia Wealth Partners LLC bought a new stake in shares of FuboTV in the third quarter valued at about $27,000. EWG Elevate Inc. lifted its stake in FuboTV by 50.0% in the fourth quarter. EWG Elevate Inc. now owns 30,000 shares of the company's stock worth $38,000 after acquiring an additional 10,000 shares during the period. Algert Global LLC purchased a new stake in FuboTV in the second quarter worth about $37,000. Finally, Apollon Wealth Management LLC grew its holdings in FuboTV by 41.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company's stock worth $61,000 after acquiring an additional 12,431 shares in the last quarter. 39.31% of the stock is currently owned by institutional investors.

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.