fuboTV (NYSE:FUBO) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of fuboTV (NYSE:FUBO) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports.

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

fuboTV Stock Up 2.5%

NYSE FUBO traded up $0.10 on Thursday, reaching $3.87. The company had a trading volume of 16,347,984 shares, compared to its average volume of 20,744,126. The company’s fifty day moving average is $3.92 and its 200-day moving average is $3.57. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 10.74 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.69 and a current ratio of 0.69. fuboTV has a 1-year low of $1.21 and a 1-year high of $6.45.

fuboTV (NYSE:FUBO) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06. The company had revenue of $377.20 million for the quarter, compared to analyst estimates of $361.33 million. fuboTV had a negative return on equity of 6.66% and a net margin of 7.61%.The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. On average, research analysts forecast that fuboTV will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at fuboTV

In related news, Chairman Edgar Bronfman, Jr. sold 59,694 shares of fuboTV 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 approximately $31,396.26. This trade represents a 87.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel V. Leff sold 66,061 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $3.68, for a total value of $243,104.48. Following the completion of the sale, the director directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 185,449 shares of company stock valued at $675,289. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On fuboTV

A number of large investors have recently made changes to their positions in FUBO. Vanguard Group Inc. increased its position in fuboTV by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company’s stock worth $61,742,000 after buying an additional 2,468,067 shares during the period. Jump Financial LLC acquired a new position in shares of fuboTV in the first quarter valued at about $3,752,000. Bank of New York Mellon Corp increased its position in fuboTV by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 983,346 shares of the company’s stock worth $2,871,000 after acquiring an additional 74,001 shares during the period. Nuveen LLC acquired a new stake in fuboTV in the 1st quarter worth about $8,930,000. Finally, Teacher Retirement System of Texas bought a new stake in fuboTV in the 1st quarter valued at about $266,000. 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.