FuboTV (NYSE:FUBO) Trading Down 10.6% Following Insider Selling

FuboTV Inc. (NYSE:FUBO) fell 10.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $4.51 and last traded at $4.57. 14,676,440 shares were traded during mid-day trading, a decline of 93% from the average session volume of 196,705,625 shares. The stock had previously closed at $5.11.

Specifically, COO Alberto Horihuela sold 403,847 shares of FuboTV stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $6.03, for a total value of $2,435,197.41. Following the completion of the sale, the chief operating officer now owns 1,449,751 shares in the company, valued at $8,741,998.53. The trade was a 21.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Gandler sold 1,425,888 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $5.01, for a total value of $7,143,698.88. Following the sale, the chief executive officer now 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.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reiterated a “neutral” rating and set a $4.75 target price (up previously from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.43.

FuboTV Stock Performance

The stock has a 50-day simple moving average of $1.86 and a 200-day simple moving average of $1.64. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -6.93 and a beta of 1.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Institutional Investors Weigh In On FuboTV

Several institutional investors and hedge funds have recently made changes to their positions in FUBO. United Advisor Group LLC acquired a new stake in shares of FuboTV during the 3rd quarter valued at approximately $26,000. Hibernia Wealth Partners LLC acquired a new stake in shares of FuboTV during the 3rd quarter valued at approximately $27,000. Algert Global LLC bought a new position in FuboTV during the 2nd quarter worth $37,000. EWG Elevate Inc. grew its stake in FuboTV by 50.0% during the 4th quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock worth $38,000 after buying an additional 10,000 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its stake in FuboTV by 41.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock worth $61,000 after buying an additional 12,431 shares during the last quarter. 39.31% of the stock is owned by institutional investors and hedge funds.

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.