fuboTV (NYSE:FUBO) Issues Earnings Results

fuboTV (NYSE:FUBO) released its earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06), FiscalAI reports. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.45 billion. fuboTV had a net margin of 7.61% and a negative return on equity of 6.66%. The firm’s revenue was up 40.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share.

fuboTV Trading Up 2.0%

Shares of FUBO opened at $2.28 on Tuesday. fuboTV has a twelve month low of $2.19 and a twelve month high of $4.72. The stock has a market cap of $779.70 million, a PE ratio of 6.32 and a beta of 1.93. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $2.64 and its 200-day moving average price is $3.37.

Analyst Ratings Changes

FUBO has been the subject of several research reports. Zacks Research lowered fuboTV from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a research note on Wednesday, October 8th. Raymond James Financial assumed coverage on shares of fuboTV in a research report on Monday, December 1st. They set a “market perform” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $4.25 target price on shares of fuboTV in a research note on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of fuboTV from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.58.

Insider Activity at fuboTV

In related news, COO Alberto Horihuela sold 138,753 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $3.16, for a total transaction of $438,459.48. Following the sale, the chief operating officer owned 1,563,830 shares of the company’s stock, valued at approximately $4,941,702.80. This represents a 8.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John Janedis sold 170,585 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $3.16, for a total transaction of $539,048.60. Following the completion of the sale, the chief financial officer owned 130,478 shares in the company, valued at $412,310.48. This represents a 56.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 610,095 shares of company stock valued at $1,818,811. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of fuboTV

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. purchased a new position in fuboTV in the third quarter worth $148,000. Kestra Private Wealth Services LLC lifted its stake in fuboTV by 13.2% during the third quarter. Kestra Private Wealth Services LLC now owns 42,757 shares of the company’s stock worth $177,000 after purchasing an additional 5,000 shares during the last quarter. Quadcap Wealth Management LLC lifted its stake in fuboTV by 21.7% during the third quarter. Quadcap Wealth Management LLC now owns 55,908 shares of the company’s stock worth $232,000 after purchasing an additional 9,986 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of fuboTV in the 3rd quarter worth about $145,000. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of fuboTV by 57.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 238,353 shares of the company’s stock valued at $989,000 after purchasing an additional 87,094 shares during the last quarter. Hedge funds and other institutional investors own 39.31% of the company’s stock.

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.