The Vanguard Group, Inc. recently announced the acquisition of new stake in fuboTV Inc. (NYSE:FUBO). The institutional investor has increased its shareholding in the Communication Services company by 41.05% to 24.12 million shares with purchase of 7.02 million shares. This fresh investment now brings its stake to 8.24% valued currently at $56.44 million. In addition, BlackRock Fund Advisors raised its holdings by 3.32 million to 16.75 million shares. And Millennium Management LLC has lifted its position by 141.85% or 5.09 million shares – to 8.68 million shares.
With over 23.84 million fuboTV Inc. (FUBO) shares trading Friday and a closing price of $2.74 on the day, the dollar volume was approximately $65.31 million. The shares have shown a positive half year performance of 126.45% and its price on 09/15/23 gained nearly 2.62%. Currently, there are 292.58M common shares owned by the public and among those 282.83M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for FUBO have a consensus price objective of $3.60. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $3.00. The average price target is 23.89% above its recent price level and an upside to the estimated low will see the stock gain 8.67% over that period. But an upside of 45.2% will see the stock hit the forecast high price target while median target price for the stock is $3.00.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 661,986 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 192,556 shares.
The top 3 mutual fund holders in fuboTV Inc. are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 9.31 million shares of the company’s stock, all valued at over $21.79 million. iShares Russell 2000 ETF sold 6504.0 shares to see its total holdings shrink to 4.62 million shares valued at over $10.8 million and representing 1.58% of the shares outstanding. Vanguard Extended Market Index Fu sold 884.0 shares to bring its total holdings to over 4.1 million shares at a value of $9.6 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.40% of the shares outstanding.
Shares of fuboTV Inc. (NYSE: FUBO) opened at $2.72, up $0.05 from a prior closing price of $2.67. However, the script later moved the day high at 2.7700, up 2.62%. The company’s stock has a 5-day price change of -9.27% and 24.55% over the past three months. FUBO shares are trading 57.47% year to date (YTD), with the 12-month market performance down to -46.48% lower. It has a 12-month low price of $0.96 and touched a high of $5.24 over the same period. FUBO has an average intraday trading volume of 17.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.13%, 5.46%, and 34.97% respectively.
Institutional ownership of fuboTV Inc. (NYSE: FUBO) shares accounts for 38.30% of the company’s 292.58M shares outstanding. Mutual fund holders own 17.34%, while other institutional holders and individual stakeholders account for 6.95% and 17.09% respectively.
It has a market capitalization of $781.20M and a beta (3y monthly) value of 2.46. The earnings-per-share (ttm) stands at -$1.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.20% over the week and 10.14% over the month.
Analysts forecast that fuboTV Inc. (FUBO) will achieve an EPS of -$0.32 for the current quarter, -$0.32 for the next quarter and -$0.83 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.33 while analysts give the company a high EPS estimate of -$0.3. Comparatively, EPS for the current quarter was -$0.82 a year ago. Earnings per share for the fiscal year are expected to increase by 9.00%, and 30.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate fuboTV Inc. (FUBO) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 5 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FUBO, a number of firms have released research notes about the stock. Evercore ISI stated their In-line rating for the stock in a research note on February 28, 2023, with the firm’s price target at $6-$3.