fuboTV (NYSE:FUBO) Trading 7.1% Higher on Better-Than-Expected Earnings

fuboTV Inc. (NYSE:FUBO)’s share price traded up 7.1% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $3.74 and last traded at $3.7050. 15,437,462 shares traded hands during trading, a decline of 35% from the average session volume of 23,888,074 shares. The stock had previously closed at $3.46.

The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. fuboTV had a net margin of 7.61% and a negative return on equity of 7.00%. The firm had revenue of $377.20 million for the quarter, compared to the consensus estimate of $361.33 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year.

Analysts Set New Price Targets

FUBO has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $6.00 target price (up previously from $5.00) on shares of fuboTV in a research note on Wednesday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $4.25 target price on shares of fuboTV in a research note on Tuesday. Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of fuboTV from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. One investment analyst has 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.63.

Insider Activity

In related news, Director Daniel V. Leff sold 66,061 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $3.68, for a total transaction of $243,104.48. Following the transaction, the director owned 390,427 shares in the company, valued at $1,436,771.36. This represents a 14.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edgar Bronfman, Jr. sold 59,694 shares of the company’s 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 185,449 shares of company stock worth $675,289. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its position in fuboTV by 177.4% during the 3rd quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock worth $29,000 after buying an additional 4,413 shares in the last quarter. Byrne Asset Management LLC acquired a new position in fuboTV during the 3rd quarter worth about $35,000. Farther Finance Advisors LLC lifted its position in fuboTV by 254,550.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,186 shares of the company’s stock worth $42,000 after buying an additional 10,182 shares in the last quarter. Tripletail Wealth Management LLC bought a new stake in fuboTV during the 2nd quarter worth about $37,000. Finally, Focus Partners Wealth bought a new stake in fuboTV during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 39.31% of the company’s stock.

fuboTV Price Performance

The stock has a market capitalization of $1.26 billion, a P/E ratio of 10.18 and a beta of 2.55. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $3.55.

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.