FuboTV (NYSE:FUBO) Shares Gap Up – Here’s What Happened

FuboTV Inc. (NYSE:FUBO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.06, but opened at $5.43. FuboTV shares last traded at $5.98, with a volume of 146,178,452 shares changing hands.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.43.

FuboTV Stock Performance

The business’s 50-day simple moving average is $1.72 and its two-hundred day simple moving average is $1.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -7.94 and a beta of 1.78.

Insider Activity

In related news, COO Alberto Horihuela sold 47,478 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $1.47, for a total value of $69,792.66. Following the transaction, the chief operating officer now directly owns 1,471,325 shares of the company’s stock, valued at approximately $2,162,847.75. This trade represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Gandler sold 1,425,888 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.01, for a total value of $7,143,698.88. Following the transaction, the chief executive officer now directly owns 346,817 shares of the company’s stock, valued at $1,737,553.17. The trade was a 80.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,547,692 shares of company stock worth $7,322,751 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of FuboTV

Several large investors have recently made changes to their positions in FUBO. Bank of New York Mellon Corp grew its stake in FuboTV by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,072,236 shares of the company’s stock valued at $1,330,000 after acquiring an additional 127,978 shares in the last quarter. XTX Topco Ltd grew its position in shares of FuboTV by 145.1% in the second quarter. XTX Topco Ltd now owns 187,926 shares of the company’s stock valued at $233,000 after purchasing an additional 111,268 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of FuboTV in the second quarter valued at approximately $92,000. ProShare Advisors LLC increased its holdings in shares of FuboTV by 71.3% in the second quarter. ProShare Advisors LLC now owns 197,037 shares of the company’s stock valued at $244,000 after purchasing an additional 82,042 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in FuboTV by 114.1% during the second quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock worth $10,383,000 after buying an additional 4,461,707 shares in the last quarter. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

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.