Mudrick Capital Management L.P. Boosts Holdings in fuboTV Inc. $FUBO

Mudrick Capital Management L.P. increased its position in shares of fuboTV Inc. (NYSE:FUBO) by 1,411.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,346,465 shares of the company’s stock after purchasing an additional 1,257,405 shares during the quarter. fuboTV makes up approximately 2.8% of Mudrick Capital Management L.P.’s holdings, making the stock its 4th biggest holding. Mudrick Capital Management L.P. owned approximately 4.46% of fuboTV worth $12,387,478,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Great Lakes Advisors LLC acquired a new position in fuboTV in the second quarter valued at about $95,000. Bank of New York Mellon Corp increased its holdings in shares of fuboTV by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 110,183 shares of the company’s stock worth $1,014,000 after buying an additional 11,189 shares in the last quarter. Byrne Asset Management LLC increased its holdings in shares of fuboTV by 64.0% during the second quarter. Byrne Asset Management LLC now owns 17,120 shares of the company’s stock worth $158,000 after buying an additional 6,680 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of fuboTV by 1,516.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,514 shares of the company’s stock valued at $32,000 after acquiring an additional 11,740 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of fuboTV by 33.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,851,690 shares of the company’s stock valued at $4,666,000 after acquiring an additional 464,607 shares during the last quarter. 39.31% of the stock is owned by institutional investors.

fuboTV Price Performance

Shares of FUBO stock opened at $10.25 on Thursday. fuboTV Inc. has a 1 year low of $7.95 and a 1 year high of $56.64. The firm’s 50 day moving average is $9.57 and its 200-day moving average is $11.43. The firm has a market capitalization of $309.55 million, a price-to-earnings ratio of -8.01 and a beta of 2.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

fuboTV (NYSE:FUBO) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. fuboTV’s revenue was up 38.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. Sell-side analysts forecast that fuboTV Inc. will post -0.29 EPS for the current fiscal year.

Insider Transactions at fuboTV

In other fuboTV news, COO Alberto Horihuela sold 141,074 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $10.38, for a total value of $1,464,348.12. Following the transaction, the chief operating officer directly owned 141,074 shares in the company, valued at approximately $1,464,348.12. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

FUBO has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of fuboTV in a research report on Friday, June 12th. Citizens Jmp reiterated a “market outperform” rating and issued a $15.00 price objective on shares of fuboTV in a research report on Thursday, June 11th. Evercore began coverage on fuboTV in a research report on Friday, May 1st. They issued an “outperform” rating and a $18.00 price objective for the company. Zacks Research lowered fuboTV from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Wedbush decreased their target price on fuboTV from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus 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.