HighTower Advisors LLC Sells 750,625 Shares of FuboTV Inc. (NYSE:FUBO)

HighTower Advisors LLC trimmed its position in shares of FuboTV Inc. (NYSE:FUBO - Free Report) by 74.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,906 shares of the company's stock after selling 750,625 shares during the period. HighTower Advisors LLC owned 0.08% of FuboTV worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of FuboTV during the fourth quarter worth about $35,000. EWG Elevate Inc. grew its stake in shares of 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 purchasing an additional 10,000 shares during the last quarter. Marathon Trading Investment Management LLC purchased a new stake in FuboTV in the 4th quarter worth approximately $40,000. Integrity Wealth Solutions LLC purchased a new position in FuboTV during the 4th quarter valued at $47,000. Finally, SBI Securities Co. Ltd. purchased a new stake in FuboTV in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 39.31% of the company's stock.

Insider Buying and Selling at FuboTV

In other FuboTV news, COO Alberto Horihuela sold 403,847 shares of FuboTV stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 1,449,751 shares of the company's stock, valued at approximately $8,741,998.53. The trade was a 21.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $7,143,698.88. Following the sale, the chief executive officer now directly owns 346,817 shares of the company's stock, 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. Insiders sold 1,861,426 shares of company stock worth $9,721,411 over the last 90 days. Corporate insiders own 7.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FUBO. UBS Group set a $3.50 price target on FuboTV in a research note on Monday, March 3rd. Wedbush restated an "outperform" rating and issued a $6.40 target price on shares of FuboTV in a report on Friday, February 28th. Needham & Company LLC upped their price target on shares of FuboTV from $2.00 to $3.50 and gave the company a "buy" rating in a research report on Monday, March 3rd. Huber Research upgraded FuboTV to a "strong-buy" rating in a research report on Friday, January 31st. Finally, Roth Mkm reissued a "neutral" rating and issued a $4.75 price objective (up from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Three 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $4.21.

FuboTV Price Performance

Shares of FuboTV stock traded down $0.23 on Friday, hitting $2.80. 19,064,310 shares of the company were exchanged, compared to its average volume of 18,797,890. The company has a 50-day moving average price of $3.49 and a 200 day moving average price of $2.51. The stock has a market capitalization of $954.43 million, a price-to-earnings ratio of -4.17 and a beta of 2.22. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. FuboTV Inc. has a 1-year low of $1.10 and a 1-year high of $6.45.

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.