ProShare Advisors LLC Reduces Stock Position in fuboTV Inc. $FUBO

ProShare Advisors LLC cut its stake in fuboTV Inc. (NYSE:FUBO) by 51.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,437 shares of the company’s stock after selling 71,605 shares during the quarter. ProShare Advisors LLC’s holdings in fuboTV were worth $264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth bought a new position in fuboTV in the 1st quarter worth about $30,000. Cresset Asset Management LLC purchased a new stake in shares of fuboTV in the first quarter worth about $38,000. Fee Only Financial Planning L.C. purchased a new stake in shares of fuboTV in the second quarter worth about $51,000. Carnegie Investment Counsel bought a new position in shares of fuboTV in the second quarter valued at approximately $51,000. Finally, Mackenzie Financial Corp grew its stake in fuboTV by 77.0% during the first quarter. Mackenzie Financial Corp now owns 20,454 shares of the company’s stock valued at $60,000 after acquiring an additional 8,900 shares in the last quarter. 39.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research upgraded shares of fuboTV from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Wall Street Zen cut shares of fuboTV from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Wedbush reissued an “outperform” rating and set a $6.00 price objective (up previously from $5.00) on shares of fuboTV in a research note on Wednesday, July 30th. Weiss Ratings restated a “sell (d+)” rating on shares of fuboTV in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.25 price target on shares of fuboTV in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, fuboTV presently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

fuboTV Stock Performance

NYSE FUBO opened at $3.16 on Friday. fuboTV Inc. has a 52-week low of $1.21 and a 52-week high of $6.45. The company has a fifty day moving average of $3.84 and a 200-day moving average of $3.62. The company has a market capitalization of $1.08 billion, a P/E ratio of 8.78 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.69 and a current ratio of 0.69.

fuboTV (NYSE:FUBO) last released its earnings results on Monday, November 3rd. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.06. fuboTV had a negative return on equity of 6.66% and a net margin of 7.61%.The business had revenue of $377.20 million for the quarter, compared to analysts’ expectations of $361.33 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts predict 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.