fuboTV (NYSE:FUBO) Trading 7.1% Higher on Strong Earnings

fuboTV Inc. (NYSE:FUBO)’s share price was up 7.1% on Tuesday following a better than expected earnings announcement. The company traded as high as $3.74 and last traded at $3.7050. Approximately 15,437,462 shares changed hands during trading, a decline of 35% from the average daily volume of 23,888,074 shares. The stock had previously closed at $3.46.

The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. fuboTV had a negative return on equity of 20.81% and a net margin of 5.50%.The company had revenue of $377.20 million for the quarter, compared to analysts’ expectations of $361.33 million. During the same period last year, the firm earned ($0.08) EPS. fuboTV’s revenue for the quarter was down 2.3% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts have commented on FUBO shares. Wall Street Zen cut fuboTV from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of fuboTV in a report on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and set a $4.25 price target on shares of fuboTV in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and set a $6.00 price target (up from $5.00) on shares of fuboTV in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.63.

Insider Transactions at fuboTV

In other news, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $3.62, for a total transaction of $216,092.28. Following the completion of the transaction, the chairman owned 8,673 shares in the company, valued at $31,396.26. This trade represents a 87.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel V. Leff sold 66,061 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $3.68, for a total value of $243,104.48. Following the transaction, the director owned 390,427 shares of the company’s stock, valued at approximately $1,436,771.36. The trade was a 14.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 185,449 shares of company stock valued at $675,289. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FUBO. Principal Financial Group Inc. grew its stake in shares of fuboTV by 2,342.4% during the third quarter. Principal Financial Group Inc. now owns 579,749 shares of the company’s stock valued at $2,406,000 after buying an additional 556,012 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of fuboTV by 177.4% during the third quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock valued at $29,000 after buying an additional 4,413 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of fuboTV during the third quarter valued at approximately $58,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of fuboTV by 90.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 23,213 shares of the company’s stock valued at $96,000 after buying an additional 11,013 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of fuboTV by 39.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,249 shares of the company’s stock valued at $109,000 after buying an additional 7,953 shares during the last quarter. Institutional investors own 39.31% of the company’s stock.

fuboTV Stock Performance

The stock has a market cap of $1.27 billion, a P/E ratio of 14.25 and a beta of 2.55. The business has a 50 day moving average price of $3.89 and a 200 day moving average price of $3.55. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.47.

fuboTV Company Profile

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.