FuboTV (NYSE:FUBO) Shares Gap Down – Time to Sell?

FuboTV Inc. (NYSE:FUBO) gapped down before the market opened on Tuesday . The stock had previously closed at $4.45, but opened at $4.31. FuboTV shares last traded at $4.50, with a volume of 8,713,087 shares traded.

Analysts Set New Price Targets

Separately, Roth Mkm reaffirmed a “neutral” rating and set a $4.75 price objective (up previously from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.43.

FuboTV Stock Down 7.2 %

The stock has a market cap of $1.38 billion, a PE ratio of -6.16 and a beta of 1.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $1.93 and a 200-day moving average price of $1.66.

Insider Activity

In other FuboTV news, COO Alberto Horihuela sold 47,478 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $1.47, for a total value of $69,792.66. Following the transaction, the chief operating officer now owns 1,471,325 shares in the company, valued at approximately $2,162,847.75. This trade represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John Janedis sold 74,326 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $1.47, for a total value of $109,259.22. Following the completion of the transaction, the chief financial officer now owns 76,766 shares in the company, valued at $112,846.02. The trade was a 49.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,951,539 shares of company stock worth $9,757,948 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of FuboTV

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP increased its stake in shares of 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 acquiring an additional 4,461,707 shares during the last quarter. Geode Capital Management LLC increased its position in shares of FuboTV by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock worth $10,087,000 after purchasing an additional 425,906 shares during the last quarter. State Street Corp increased its position in shares of FuboTV by 1.9% during the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company’s stock worth $9,848,000 after purchasing an additional 132,167 shares during the last quarter. Millennium Management LLC increased its position in shares of FuboTV by 132.6% during the 2nd quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock worth $5,965,000 after purchasing an additional 2,742,780 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of FuboTV by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock worth $3,676,000 after purchasing an additional 200,154 shares during the last quarter. 39.31% of the stock is owned by institutional investors and hedge funds.

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.