FuboTV (NYSE:FUBO) Stock Price Down 4.3% – Here’s What Happened

FuboTV Inc. (NYSE:FUBO) was down 4.3% during mid-day trading on Friday . The company traded as low as $1.67 and last traded at $1.70. Approximately 5,544,849 shares were traded during trading, a decline of 48% from the average daily volume of 10,671,916 shares. The stock had previously closed at $1.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FUBO shares. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of FuboTV in a research note on Monday, August 19th. Barrington Research reiterated a “market perform” rating on shares of FuboTV in a research note on Tuesday, August 20th. Finally, Seaport Res Ptn downgraded shares of FuboTV from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.88.

FuboTV Trading Down 3.9 %

The company has a 50 day moving average of $1.54 and a two-hundred day moving average of $1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $571.26 million, a PE ratio of -2.66 and a beta of 1.74.

Insider Buying and Selling

In related news, COO Alberto Horihuela sold 47,478 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $1.47, for a total transaction of $69,792.66. Following the transaction, the chief operating officer now directly owns 1,471,325 shares in the company, valued at $2,162,847.75. The trade was a 3.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John Janedis sold 74,326 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $1.47, for a total value of $109,259.22. Following the sale, the chief financial officer now owns 76,766 shares in the company, valued at approximately $112,846.02. The trade was a 49.19 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Institutional Trading of FuboTV

Several large investors have recently added to or reduced their stakes in FUBO. United Advisor Group LLC purchased a new stake in FuboTV during the 3rd quarter valued at about $26,000. Hibernia Wealth Partners LLC purchased a new stake in shares of FuboTV in the third quarter worth about $27,000. Algert Global LLC purchased a new stake in shares of FuboTV in the second quarter worth about $37,000. Public Employees Retirement System of Ohio acquired a new position in FuboTV in the 1st quarter worth about $44,000. Finally, Apollon Wealth Management LLC raised its holdings in FuboTV by 41.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock worth $61,000 after purchasing an additional 12,431 shares during the period. Hedge funds and other institutional investors own 39.31% of the company’s stock.

About FuboTV

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.