SG Americas Securities Invests in fuboTV
SG Americas Securities LLC significantly bolstered its position in fuboTV Inc during the fourth quarter, according to recent filings with the Securities & Exchange Commission. The firm raised its holdings by 26.7%, acquiring an additional 48,431 shares, bringing its total ownership to 230,074 shares. This move underscores SG Americas Securities’ confidence in fuboTV’s potential, with its holdings valued at approximately $732,000.
Moreover, other institutional investors and hedge funds have also shown interest in fuboTV. Canada Pension Plan Investment Board, Pathstone Family Office LLC, Point72 Hong Kong Ltd, W.G. Shaheen & Associates DBA Whitney & Co, and Franklin Resources Inc. have all initiated stakes in the company, contributing to a total institutional ownership of 39.31%.
Market Response to SG Americas Securities Invests in fuboTV
Following the announcement of the investoment by SG Americas Securities, the stock of fuboTV experienced a slight surge today, opening trading at $1.60. Currently, it is trading at:
- Index: FUBO
- Symbol: fuboTV Inc.
- Quote: $1.66
- Change: +$0.100000024
- Percentage Change: +6.410258%
- Volume: 4,600,469 shares traded
- Average Analyst Rating: 2.6 (Hold)
- Book Value: $0.988
The company’s 50-day moving average stands at $1.94, while its 200-day moving average is $2.53. fuboTV Inc. has seen a 1-year low of $1.03 and a high of $3.87. With a market capitalization of $459.73 million, the company operates with a P/E ratio of -1.43 and a beta of 1.99. It maintains a debt-to-equity ratio of 1.38, along with current and quick ratios of 0.75 each.
Earnings Performance
In its latest earnings release on March 1st, fuboTV reported earnings per share (EPS) of ($0.21) for the quarter, surpassing consensus estimates by $0.08. The company achieved revenue of $410.18 million, exceeding analyst expectations of $397.37 million. Analysts anticipate a negative EPS of -0.68 for the current fiscal year.
Analyst Insights
Several equities research analysts have offered their perspectives on fuboTV’s performance. Ratings and target price adjustments have been made by firms such as Evercore ISI, Needham & Company LLC, Roth Mkm, Wedbush, and Cantor Fitzgerald. Market consensus currently suggests a “Moderate Buy” rating with an average target price of $3.42.
Insider Transactions
Recent insider activity at fuboTV includes CFO John Janedis selling 18,000 shares of the company’s stock at an average price of $1.90 per share. Insider ownership stands at 6.70% of the company’s total stock.
Institutional investors’ increased stakes in fuboTV, coupled with positive stock performance and analyst sentiment, reflect growing confidence in the company’s strategic direction and potential for future growth. Despite recent fluctuations, fuboTV remains positioned to capitalize on the evolving streaming landscape and drive value for shareholders.
Source: Defense World
