Franklin Resources Inc. Acquires 275,309 Shares of fuboTV Inc. $FUBO

Franklin Resources Inc. lifted its holdings in fuboTV Inc. (NYSE:FUBO) by 609.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 320,499 shares of the company’s stock after acquiring an additional 275,309 shares during the period. Franklin Resources Inc. owned approximately 0.09% of fuboTV worth $1,237,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of fuboTV by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company’s stock worth $61,742,000 after purchasing an additional 2,468,067 shares in the last quarter. Jump Financial LLC bought a new stake in shares of fuboTV in the first quarter valued at approximately $3,752,000. Integrated Quantitative Investments LLC acquired a new stake in fuboTV during the second quarter worth approximately $327,000. Nuveen LLC acquired a new stake in fuboTV during the first quarter worth approximately $8,930,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in fuboTV by 174.6% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 138,300 shares of the company’s stock worth $404,000 after acquiring an additional 87,933 shares during the period. Institutional investors and hedge funds own 39.31% of the company’s stock.

Insider Buying and Selling

In related news, COO Alberto Horihuela sold 138,753 shares of the business’s stock in a transaction on Friday, November 21st. The stock was 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 in the company, valued at $4,941,702.80. The trade was a 8.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John Janedis sold 130,478 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $3.12, for a total value of $407,091.36. The SEC filing for this sale provides additional information. Insiders sold 439,816 shares of company stock worth $1,384,599 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FUBO. Zacks Research upgraded fuboTV from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of fuboTV in a research report on Wednesday, October 8th. Raymond James Financial assumed coverage on shares of fuboTV in a report on Monday. They issued a “market perform” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $4.25 target price on shares of fuboTV in a research report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of fuboTV from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

fuboTV Stock Performance

NYSE:FUBO opened at $2.85 on Friday. fuboTV Inc. has a twelve month low of $1.21 and a twelve month high of $6.45. 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 stock’s 50-day simple moving average is $3.58 and its 200 day simple moving average is $3.62. The firm has a market capitalization of $975.04 million, a PE ratio of 7.90 and a beta of 1.90.

fuboTV (NYSE:FUBO) last posted its earnings results on Monday, November 3rd. The company reported $0.02 EPS 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 6.66%. The firm had revenue of $377.20 million during the quarter, compared to analysts’ expectations of $361.33 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts anticipate that fuboTV Inc. will post -0.51 EPS for the current fiscal year.

About fuboTV

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.