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

Shares of FuboTV Inc. (NYSE:FUBO) traded down 10.6% on Monday following insider selling activity. The company 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 stock in a transaction on Tuesday, January 7th. The shares were 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 of the company’s stock, valued at $8,741,998.53. This represents a 21.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Gandler sold 1,425,888 shares of the business’s stock in a transaction dated 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 owns 346,817 shares in the company, 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 from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.43.

FuboTV Stock Performance

The company’s 50-day moving average price is $1.93 and its 200 day moving average price is $1.66. The stock has a market capitalization of $1.50 billion, a PE ratio of -6.70 and a beta of 1.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54.

Institutional Trading of FuboTV

Several institutional investors and hedge funds have recently bought and sold shares of FUBO. United Advisor Group LLC bought a new position in shares of FuboTV during the third quarter valued at approximately $26,000. Hibernia Wealth Partners LLC bought a new position in FuboTV during the 3rd quarter valued at approximately $27,000. Algert Global LLC bought a new position in FuboTV during the 2nd quarter valued at approximately $37,000. EWG Elevate Inc. raised its stake in FuboTV by 50.0% during the fourth quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock valued at $38,000 after buying an additional 10,000 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted 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 worth $61,000 after acquiring an additional 12,431 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.