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

FuboTV Inc. (NYSE:FUBO)’s share price fell 10.6% during trading on Monday following insider selling activity. The stock traded as low as $4.51 and last traded at $4.57. 14,676,440 shares changed hands during 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 the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $6.03, for a total transaction 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. This represents a 21.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 on Monday, January 6th. The shares were sold at an average price of $5.01, for a total transaction of $7,143,698.88. Following the completion of the transaction, the chief executive officer now directly owns 346,817 shares in the company, valued at $1,737,553.17. This represents a 80.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Separately, Roth Mkm reaffirmed a “neutral” rating and issued a $4.75 target price (up previously from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Four equities research 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, FuboTV has an average rating of “Hold” and a consensus price target of $3.43.

FuboTV Stock Down 14.4 %

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $1.27 billion, a PE ratio of -5.69 and a beta of 1.78. The firm’s 50-day simple moving average is $1.97 and its 200 day simple moving average is $1.68.

Institutional Trading of FuboTV

A number of institutional investors have recently added to or reduced their stakes 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 position in FuboTV during the third quarter worth $27,000. Algert Global LLC purchased a new stake in FuboTV during the second quarter worth $37,000. EWG Elevate Inc. grew its holdings in FuboTV by 50.0% in the fourth quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock valued at $38,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in FuboTV by 41.2% in the third quarter. Apollon Wealth Management LLC now owns 42,611 shares of the company’s stock valued at $61,000 after purchasing an additional 12,431 shares during the last quarter. Hedge funds and other institutional investors own 39.31% of the company’s stock.

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.