fuboTV (NYSE:FUBO) Stock Price Down 10.1% – Here’s What Happened

fuboTV Inc. (NYSE:FUBO)’s stock price was down 10.1% during trading on Wednesday . The stock traded as low as $10.72 and last traded at $10.8090. Approximately 1,115,721 shares were traded during trading, a decline of 13% from the average daily volume of 1,275,668 shares. The stock had previously closed at $12.02.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Raymond James Financial started coverage on fuboTV in a research note on Monday, December 1st. They issued a “market perform” rating on the stock. Wall Street Zen raised fuboTV from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Needham & Company LLC cut their target price on fuboTV from $51.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Wedbush reduced their target price on fuboTV from $60.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. Finally, Zacks Research lowered fuboTV from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.00.

fuboTV Trading Down 11.2%

The company has a fifty day simple moving average of $18.82 and a two-hundred day simple moving average of $33.20. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $283.09 million, a P/E ratio of 1.78 and a beta of 2.14.

Insider Buying and Selling at fuboTV

In other news, CEO David Gandler sold 14,189 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $30.60, for a total transaction of $434,183.40. Following the completion of the sale, the chief executive officer owned 46,785 shares of the company’s stock, valued at $1,431,621. This represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 74.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On fuboTV

Institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its stake in fuboTV by 177.4% in the 3rd quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock worth $29,000 after purchasing an additional 4,413 shares during the period. Farther Finance Advisors LLC raised its stake in shares of fuboTV by 47.7% in the 4th quarter. Farther Finance Advisors LLC now owns 15,045 shares of the company’s stock valued at $38,000 after purchasing an additional 4,859 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of fuboTV by 13.2% in the third quarter. Kestra Private Wealth Services LLC now owns 42,757 shares of the company’s stock valued at $177,000 after purchasing an additional 5,000 shares in the last quarter. USAdvisors Wealth Management LLC lifted its holdings in shares of fuboTV by 4.3% in the fourth quarter. USAdvisors Wealth Management LLC now owns 150,731 shares of the company’s stock valued at $379,000 after purchasing an additional 6,200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of fuboTV by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 171,039 shares of the company’s stock worth $660,000 after buying an additional 6,857 shares during the period. 39.31% of the stock is owned by institutional investors.

fuboTV Company Profile

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV’s proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.