Millennium Management LLC Increases Position in FuboTV Inc. (NYSE:FUBO)

Millennium Management LLC raised its position in shares of FuboTV Inc. (NYSE:FUBO - Free Report) by 132.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,810,529 shares of the company's stock after purchasing an additional 2,742,780 shares during the quarter. Millennium Management LLC owned 1.60% of FuboTV worth $5,965,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FUBO. Marshall Wace LLP boosted its holdings in FuboTV by 114.1% in the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company's stock worth $10,383,000 after buying an additional 4,461,707 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of FuboTV during the first quarter worth about $313,000. Jacobs Levy Equity Management Inc. bought a new stake in FuboTV during the 1st quarter valued at approximately $618,000. Bank of New York Mellon Corp raised its stake in FuboTV by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,072,236 shares of the company's stock valued at $1,330,000 after purchasing an additional 127,978 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in FuboTV by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 183,815 shares of the company's stock worth $291,000 after purchasing an additional 9,229 shares in the last quarter. Hedge funds and other institutional investors own 39.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FUBO shares. Needham & Company LLC restated a "buy" rating and set a $2.00 target price on shares of FuboTV in a research report on Monday, August 19th. Seaport Res Ptn downgraded shares of FuboTV from a "strong-buy" rating to a "hold" rating in a report on Monday, August 19th. Finally, Barrington Research reaffirmed a "market perform" rating on shares of FuboTV in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.88.

Insider Activity

In other news, Director Neil Glat purchased 25,000 shares of the firm's stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $1.42 per share, with a total value of $35,500.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at $35,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.00% of the company's stock.

FuboTV Trading Up 5.9 %

Shares of FUBO stock traded up $0.09 on Friday, reaching $1.62. 13,711,988 shares of the company's stock were exchanged, compared to its average volume of 10,656,030. The company's fifty day simple moving average is $1.56 and its 200 day simple moving average is $1.42. The stock has a market capitalization of $533.53 million, a PE ratio of -1.92 and a beta of 1.79. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.39. FuboTV Inc. has a 52 week low of $1.10 and a 52 week high of $3.82.

FuboTV (NYSE:FUBO - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $389.22 million for the quarter, compared to the consensus estimate of $369.47 million. FuboTV had a negative return on equity of 74.58% and a negative net margin of 15.44%. As a group, analysts forecast that FuboTV Inc. will post -0.51 EPS for the current year.

FuboTV Profile

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company's platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.