fuboTV (NYSE:FUBO) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of fuboTV (NYSE:FUBO) from a hold rating to a sell rating in a research report released on Saturday morning.

Other analysts have also issued reports about the company. Zacks Research raised fuboTV from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Raymond James Financial began coverage on shares of fuboTV in a report on Monday, December 1st. They set a “market perform” rating on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $4.25 price target on shares of fuboTV in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, fuboTV currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.63.

fuboTV Trading Down 3.2%

Shares of FUBO stock opened at $2.58 on Friday. fuboTV has a twelve month low of $1.21 and a twelve month high of $6.45. The company has a market capitalization of $882.51 million, a price-to-earnings ratio of 7.15 and a beta of 1.90. The firm has a 50-day moving average price of $3.42 and a 200 day moving average price of $3.59. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.48.

fuboTV (NYSE:FUBO) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06. The business had revenue of $377.20 million during the quarter, compared to analyst estimates of $361.33 million. fuboTV had a net margin of 7.61% and a negative return on equity of 6.66%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Research analysts forecast that fuboTV will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Alberto Horihuela sold 138,753 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $3.16, for a total transaction of $438,459.48. Following the transaction, the chief operating officer directly owned 1,563,830 shares of the company’s stock, valued at approximately $4,941,702.80. The trade was a 8.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John Janedis sold 130,478 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $3.12, for a total value of $407,091.36. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 439,816 shares of company stock worth $1,384,599. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On fuboTV

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of fuboTV by 13.2% during the first quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company’s stock valued at $61,742,000 after acquiring an additional 2,468,067 shares in the last quarter. Two Sigma Investments LP grew its stake in fuboTV by 12.2% during the 3rd quarter. Two Sigma Investments LP now owns 6,745,483 shares of the company’s stock valued at $27,994,000 after purchasing an additional 734,142 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in fuboTV by 73.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,614,497 shares of the company’s stock worth $19,154,000 after purchasing an additional 1,954,352 shares during the last quarter. Jump Financial LLC raised its position in shares of fuboTV by 189.6% in the 2nd quarter. Jump Financial LLC now owns 3,721,263 shares of the company’s stock valued at $14,364,000 after purchasing an additional 2,436,479 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of fuboTV in the 1st quarter valued at approximately $8,930,000. 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.