fuboTV (NYSE:FUBO) Downgraded to Sell Rating by Wall Street Zen

fuboTV (NYSE:FUBO) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Several other analysts also recently weighed in on FUBO. B. Riley Financial began coverage on fuboTV in a report on Friday, March 27th. They issued a “buy” rating and a $18.00 price objective for the company. Zacks Research cut shares of fuboTV from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Citigroup reissued a “market outperform” rating on shares of fuboTV in a research report on Thursday, June 11th. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of fuboTV in a research report on Thursday, June 11th. Finally, Evercore initiated coverage on shares of fuboTV in a report on Friday, May 1st. They issued an “outperform” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.83.

fuboTV Trading Up 0.1%

Shares of FUBO opened at $9.23 on Friday. The firm has a market capitalization of $271.82 million, a price-to-earnings ratio of -7.27 and a beta of 2.41. The company has a 50-day moving average of $10.70 and a 200 day moving average of $18.60. fuboTV has a 1-year low of $8.31 and a 1-year high of $56.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.99.

fuboTV (NYSE:FUBO) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.28. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.58 billion. fuboTV had a negative net margin of 0.90% and a negative return on equity of 5.52%. The company’s revenue was up 278.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, research analysts expect that fuboTV will post -0.29 EPS for the current year.

Insider Activity

In other news, COO Alberto Horihuela sold 141,074 shares of fuboTV stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $10.38, for a total value of $1,464,348.12. Following the transaction, the chief operating officer directly owned 141,074 shares in the company, valued at approximately $1,464,348.12. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On fuboTV

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of fuboTV by 124.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,631,853 shares of the company’s stock valued at $9,152,000 after buying an additional 2,010,463 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of fuboTV by 73.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,614,497 shares of the company’s stock worth $19,154,000 after buying an additional 1,954,352 shares during the last quarter. First Trust Advisors LP raised its stake in shares of fuboTV by 378.0% during the 4th quarter. First Trust Advisors LP now owns 1,524,254 shares of the company’s stock worth $3,841,000 after acquiring an additional 1,205,393 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of fuboTV during the 4th quarter worth approximately $2,922,000. Finally, Millennium Management LLC raised its stake in shares of fuboTV by 791.5% during the 4th quarter. Millennium Management LLC now owns 1,164,025 shares of the company’s stock worth $2,933,000 after acquiring an additional 1,033,453 shares in the last quarter. 39.31% of the stock is currently owned by institutional investors.

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.