fuboTV (NYSE:FUBO) Shares Gap Down Following Weak Earnings

fuboTV Inc. (NYSE:FUBO) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $2.27, but opened at $1.70. fuboTV shares last traded at $1.6750, with a volume of 16,803,800 shares trading hands.

The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm 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 company’s revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS.

Analysts Set New Price Targets

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

Insider Activity at fuboTV

In other news, COO Alberto Horihuela sold 138,753 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $3.16, for a total value of $438,459.48. Following the completion of the sale, the chief operating officer owned 1,563,830 shares in the company, valued at approximately $4,941,702.80. The trade was a 8.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Janedis sold 130,478 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $3.12, for a total transaction of $407,091.36. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 610,095 shares of company stock worth $1,818,811 over the last three months. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of fuboTV

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC raised its position in shares of fuboTV by 189.6% in the 2nd quarter. Jump Financial LLC now owns 3,721,263 shares of the company’s stock worth $14,364,000 after acquiring an additional 2,436,479 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in fuboTV by 73.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,614,497 shares of the company’s stock valued at $19,154,000 after purchasing an additional 1,954,352 shares during the last quarter. Aquatic Capital Management LLC bought a new position in fuboTV in the third quarter worth about $3,169,000. Two Sigma Investments LP raised its holdings in fuboTV by 12.2% in the third quarter. Two Sigma Investments LP now owns 6,745,483 shares of the company’s stock worth $27,994,000 after purchasing an additional 734,142 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of fuboTV by 2,342.4% in the 3rd 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 in the last quarter. Institutional investors own 39.31% of the company’s stock.

fuboTV Stock Performance

The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.48. The stock has a market cap of $591.20 million, a PE ratio of 4.79 and a beta of 1.93. The business’s 50-day moving average price is $2.64 and its 200-day moving average price is $3.37.

About fuboTV

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.