FuboTV (NYSE:FUBO) Shares Gap Down – Should You Sell?

FuboTV Inc. (NYSE:FUBO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $3.52, but opened at $2.96. FuboTV shares last traded at $2.77, with a volume of 20,843,591 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on FUBO shares. Roth Mkm reissued a “neutral” rating and issued a $4.75 price target (up previously from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Huber Research raised shares of FuboTV to a “strong-buy” rating in a report on Friday, January 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.40 target price on shares of FuboTV in a report on Friday. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.71.

FuboTV Stock Down 13.2 %

The business’s fifty day simple moving average is $3.53 and its 200 day simple moving average is $2.27. 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 stock has a market cap of $1.02 billion, a price-to-earnings ratio of -4.56 and a beta of 1.99.

Insider Activity

In other news, COO Alberto Horihuela sold 5,868 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $5.98, for a total value of $35,090.64. Following the completion of the transaction, the chief operating officer now owns 1,446,730 shares of the company’s stock, valued at $8,651,445.40. The trade was a 0.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the chief executive officer now directly owns 346,817 shares of the company’s stock, valued at $1,737,553.17. This trade represents a 80.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,861,426 shares of company stock valued at $9,721,411 in the last quarter. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On FuboTV

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in shares of FuboTV by 2.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company’s stock valued at $138,000 after buying an additional 2,668 shares during the period. Corebridge Financial Inc. lifted its position in FuboTV by 2.1% in the 4th quarter. Corebridge Financial Inc. now owns 160,328 shares of the company’s stock valued at $202,000 after acquiring an additional 3,321 shares in the last quarter. Xponance Inc. lifted its position in FuboTV by 19.1% in the 4th quarter. Xponance Inc. now owns 23,002 shares of the company’s stock valued at $29,000 after acquiring an additional 3,689 shares in the last quarter. Invesco Ltd. lifted its position in FuboTV by 1.8% in the 4th quarter. Invesco Ltd. now owns 487,104 shares of the company’s stock valued at $614,000 after acquiring an additional 8,475 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in FuboTV by 10.7% in the 4th quarter. Arizona State Retirement System now owns 95,578 shares of the company’s stock valued at $120,000 after acquiring an additional 9,230 shares in the last quarter. 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.