FuboTV (NYSE:FUBO) Shares Gap Down Following Insider Selling

FuboTV Inc. (NYSE:FUBO) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $5.46, but opened at $4.63. FuboTV shares last traded at $4.71, with a volume of 33,341,018 shares.

Specifically, CEO David Gandler sold 1,425,888 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was 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 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 sale was disclosed in a filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “neutral” rating and issued a $4.75 price target (up from $2.00) on shares of FuboTV in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, FuboTV presently has a consensus rating of “Hold” and a consensus target price of $3.43.

FuboTV Price Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.54. The company has a fifty day moving average price of $1.79 and a 200 day moving average price of $1.61. The company has a market capitalization of $1.71 billion, a P/E ratio of -7.63 and a beta of 1.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Advisor Group LLC bought a new position in FuboTV in the 3rd quarter worth about $26,000. Hibernia Wealth Partners LLC bought a new position in FuboTV in the 3rd quarter worth approximately $27,000. Algert Global LLC acquired a new stake in FuboTV in the 2nd quarter valued at approximately $37,000. Apollon Wealth Management LLC raised its stake in FuboTV by 41.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock valued at $61,000 after acquiring an additional 12,431 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in FuboTV during the 2nd quarter worth $92,000. Institutional investors and hedge funds own 39.31% of the company’s stock.

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.