KLP Kapitalforvaltning AS Grows Stake in fuboTV Inc. $FUBO

KLP Kapitalforvaltning AS lifted its stake in shares of fuboTV Inc. (NYSE:FUBO) by 29.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,400 shares of the company’s stock after purchasing an additional 15,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in fuboTV were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in fuboTV by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company’s stock valued at $61,742,000 after purchasing an additional 2,468,067 shares during the last quarter. Nuveen LLC purchased a new stake in shares of fuboTV during the first quarter worth $8,930,000. Jump Financial LLC purchased a new stake in shares of fuboTV during the first quarter worth $3,752,000. Bank of New York Mellon Corp raised its holdings in shares of fuboTV by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 983,346 shares of the company’s stock valued at $2,871,000 after purchasing an additional 74,001 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of fuboTV by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,262 shares of the company’s stock valued at $2,454,000 after purchasing an additional 99,482 shares in the last quarter. Hedge funds and other institutional investors own 39.31% of the company’s stock.

Analyst Upgrades and Downgrades

FUBO has been the topic of a number of recent analyst reports. Needham & Company LLC increased their target price on shares of fuboTV from $3.00 to $4.25 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of fuboTV from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective (up previously from $5.00) on shares of fuboTV in a research note on Wednesday, July 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.63.

Insider Activity at fuboTV

In related news, Director Ignacio Figueras sold 66,061 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $4.26, for a total value of $281,419.86. Following the sale, the director directly owned 402,009 shares of the company’s stock, valued at $1,712,558.34. This represents a 14.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $3.62, for a total transaction of $216,092.28. Following the completion of the sale, the chairman directly owned 8,673 shares in the company, valued at $31,396.26. This represents a 87.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 426,849 shares of company stock valued at $1,660,612. Insiders own 5.30% of the company’s stock.

fuboTV Price Performance

Shares of FUBO stock opened at $3.66 on Tuesday. The company has a market capitalization of $1.25 billion, a PE ratio of 14.06 and a beta of 2.38. The firm has a fifty day simple moving average of $3.88 and a 200-day simple moving average of $3.49. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.47. fuboTV Inc. has a twelve month low of $1.21 and a twelve month high of $6.45.

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.