FuboTV (NYSE:FUBO) Shares Up 6.2% Following Analyst Upgrade

FuboTV Inc. (NYSE:FUBO)’s share price rose 6.2% during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $2.00 to $3.50. Needham & Company LLC currently has a buy rating on the stock. FuboTV traded as high as $2.98 and last traded at $3.02. Approximately 15,380,051 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 57,433,832 shares. The stock had previously closed at $2.84.

A number of other research analysts have also commented on the company. Roth Mkm reissued a “neutral” rating and set a $4.75 price objective (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 research report on Friday, January 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.40 price objective on shares of FuboTV in a report on Friday. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.01.

Insider Buying and Selling

In other FuboTV news, CFO John Janedis sold 25,823 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $4.16, for a total value of $107,423.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Alberto Horihuela sold 5,868 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $5.98, for a total transaction 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 approximately $8,651,445.40. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,861,426 shares of company stock valued at $9,721,411. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On FuboTV

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in FuboTV by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company’s stock valued at $138,000 after purchasing an additional 2,668 shares during the last quarter. Corebridge Financial Inc. raised its stake in shares of FuboTV by 2.1% in the fourth 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 during the last quarter. Xponance Inc. boosted its holdings in shares of FuboTV by 19.1% in the 4th quarter. Xponance Inc. now owns 23,002 shares of the company’s stock worth $29,000 after acquiring an additional 3,689 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of FuboTV by 1.8% in the 4th quarter. Invesco Ltd. now owns 487,104 shares of the company’s stock worth $614,000 after acquiring an additional 8,475 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in FuboTV by 10.7% during the 4th quarter. Arizona State Retirement System now owns 95,578 shares of the company’s stock valued at $120,000 after purchasing an additional 9,230 shares in the last quarter. Institutional investors and hedge funds own 39.31% of the company’s stock.

FuboTV Trading Up 6.5 %

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -4.51 and a beta of 1.99. 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 business has a 50 day simple moving average of $3.56 and a 200 day simple moving average of $2.29.

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.