fuboTV (NYSE:FUBO) Announces Quarterly Earnings Results

fuboTV (NYSE:FUBO) issued its quarterly earnings results on Friday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04, Briefing.com reports. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. fuboTV’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS.

fuboTV Stock Performance

NYSE:FUBO traded up $0.42 during midday trading on Friday, hitting $10.22. The company’s stock had a trading volume of 1,950,905 shares, compared to its average volume of 1,609,967. fuboTV has a fifty-two week low of $7.95 and a fifty-two week high of $56.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $308.55 million, a P/E ratio of -7.98 and a beta of 2.40. The firm’s 50 day moving average is $9.45 and its 200-day moving average is $12.56.

Insider Buying and Selling

In related news, COO Alberto Horihuela sold 141,074 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $10.38, for a total transaction of $1,464,348.12. Following the completion of the transaction, the chief operating officer owned 141,074 shares of the company’s stock, valued at $1,464,348.12. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On fuboTV

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of fuboTV by 124.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,631,853 shares of the company’s stock valued at $9,152,000 after buying an additional 2,010,463 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of fuboTV by 73.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,614,497 shares of the company’s stock worth $19,154,000 after buying an additional 1,954,352 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of fuboTV by 378.0% in the fourth quarter. First Trust Advisors LP now owns 1,524,254 shares of the company’s stock worth $3,841,000 after buying an additional 1,205,393 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of fuboTV in the fourth quarter worth about $2,922,000. Finally, Millennium Management LLC grew its holdings in fuboTV by 791.5% during the fourth quarter. Millennium Management LLC now owns 1,164,025 shares of the company’s stock worth $2,933,000 after acquiring an additional 1,033,453 shares during the period. 39.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on FUBO. Zacks Research downgraded shares of fuboTV from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Wedbush cut their target price on fuboTV from $24.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (e+)” rating on shares of fuboTV in a research note on Wednesday, August 5th. Wall Street Zen cut fuboTV from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Finally, Evercore assumed coverage on fuboTV in a research note on Friday, May 1st. They set an “outperform” rating and a $18.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, fuboTV has an average rating of “Moderate Buy” and an average target price of $16.83.

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.