FuboTV (NYSE:FUBO) Shares Gap Down After Insider Selling

FuboTV Inc. (NYSE:FUBO) shares gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $5.46, but opened at $4.63. FuboTV shares last traded at $4.71, with a volume of 33,341,018 shares changing hands.

Specifically, 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 transaction, the chief executive officer now owns 346,817 shares in the company, valued at approximately $1,737,553.17. The trade was a 80.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “neutral” rating and issued a $4.75 price objective (up from $2.00) on shares of FuboTV in a report on Tuesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.43.

FuboTV Stock Performance

The firm’s 50-day simple moving average is $1.79 and its two-hundred day simple moving average is $1.61. The stock has a market capitalization of $1.71 billion, a PE ratio of -7.63 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.

Hedge Funds Weigh In On FuboTV

Institutional investors and hedge funds have recently modified their holdings of the stock. United Advisor Group LLC acquired a new stake in shares of FuboTV in the 3rd quarter valued at $26,000. Hibernia Wealth Partners LLC bought a new stake in shares of FuboTV during the 3rd quarter worth about $27,000. Algert Global LLC bought a new stake in shares of FuboTV during the 2nd quarter worth about $37,000. Apollon Wealth Management LLC raised its stake in shares of FuboTV by 41.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock valued at $61,000 after acquiring an additional 12,431 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in FuboTV by 19.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 73,677 shares of the company’s stock worth $105,000 after purchasing an additional 12,000 shares during 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.