BlackRock Fund Advisors 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 25.97% to 21.1 million shares with purchase of 4.35 million shares. This fresh investment now brings its stake to 7.21% valued currently at $67.32 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.98 million to 6.5 million shares. And Geode Capital Management LLC has lifted its position by 23.28% or 1.11 million shares – to 5.85 million shares.
With over 10.04 million fuboTV Inc (FUBO) shares trading Monday and a closing price of $3.17 on the day, the dollar volume was approximately $31.83 million. The shares have shown a positive half year performance of 25.30% and its price on 01/08/24 gained nearly 8.19%. Currently, there are 292.81M common shares owned by the public and among those 281.23M shares have been available to trade.
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Insiders at the company have transacted a total of 11 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 628,047 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 131,319 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 $29.7 million. iShares Russell 2000 ETF bought 3339.0 shares to see its total holdings expand to 6.79 million shares valued at over $21.66 million and representing 2.32% of the shares outstanding. Vanguard Extended Market Index Fu bought 42371.0 shares to bring its total holdings to over 4.22 million shares at a value of $13.46 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.44% of the shares outstanding.
Shares of fuboTV Inc (NYSE: FUBO) opened at $2.91, down -$0.02 from a prior closing price of $2.93. However, the script later moved the day high at 3.1700, up 8.19%. The company’s stock has a 5-day price change of -0.31% and 29.39% over the past three months. FUBO shares are trading -0.31% year to date (YTD), with the 12-month market performance up to 83.24% higher. It has a 12-month low price of $0.96 and touched a high of $3.87 over the same period. FUBO has an average intraday trading volume of 11.72 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 -2.01%, 4.50%, and 36.65% respectively.
Institutional ownership of fuboTV Inc (NYSE: FUBO) shares accounts for 36.83% of the company’s 292.81M shares outstanding. Mutual fund holders own 18.59%, while other institutional holders and individual stakeholders account for 6.91% and 18.23% respectively.
It has a market capitalization of $928.21M and a beta (3y monthly) value of 2.07. The earnings-per-share (ttm) stands at -$1.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.64% over the week and 6.60% over the month.
Analysts forecast that fuboTV Inc (FUBO) will achieve an EPS of $Fenbo Holdings Limited for the current quarter, $5.05 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $FUBON FINANCIAL HLDG CO LTD while analysts give the company a high EPS estimate of $FUBON ASSET MANAGEMENT CO LTD F. Comparatively, EPS for the current quarter was $FUBON SECURITIES INVSTMT TRUST a year ago. Earnings per share for the fiscal year are expected to increase by 64.19%, and 27.16% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate fuboTV Inc (FUBO) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 6 of the 10 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. Cantor Fitzgerald stated their Overweight rating for the stock in a research note on December 12, 2023, with the firm’s price target at $5.
