Insiders at FuboTV (FUBO) are showing confidence in the stock, as per recent filings
A recent filing with the Securities and Exchange Commission (SEC) reveals that Neil Glat, a board member of FuboTV (FUBO), has taken a significant step by converting 49,000 restricted stock units (RSUs) into common stock, valued at $156,000, showcasing his confidence in the company’s future. This move aligns Glat’s interests more closely with those of regular investors, as he will now be subject to the day-to-day fluctuations in FuboTV’s stock price.
Despite experiencing recent volatility, FUBO stock saw a 2.66% increase on Tuesday, closing at $3.09. The surge in FuboTV’s stock price came after Disney (DIS) announced its intention to acquire FuboTV and integrate it into Hulu. This move saw FuboTV’s stock climb by 110% in January. The upcoming deal will allow Disney to stream ESPN live on FuboTV, further reinforcing Fubo’s sports-centric content focus. Moreover, the acquisition between Disney and FuboTV has resolved a legal dispute that stemmed from allegations of anti-competitive behavior by Disney regarding a joint sports streaming service venture involving Fox Corp. (FOXA) and Warner Bros. Discovery (WBD).
In its latest earnings report, FuboTV disclosed a net loss of $176 million in 2024, showing improvement over previous years due to increased subscriptions that drove revenue to $1.5 billion, the highest in the company’s history. Despite this revenue milestone, FuboTV still grapples with $330 million in debt. The company’s fortunes began to decline in 2021 following a $95 million loss, with stock performance stagnating until the announcement of Disney’s acquisition plans. Should the acquisition not materialize, FuboTV will be liable to pay Disney a $50 million termination fee as outlined in their year-end filings.
Analysts’ estimates and targets for FuboTV remain mixed, with Needham’s Laura Martin setting a price target range of $2–$3.05 on March 3. Barrington Research anticipates FuboTV to report earnings per share of $0.08 for the first quarter of 2025. Despite these differing projections, Neil Glat’s recent stock conversion underscores a bullish sentiment towards FuboTV, either as a standalone entity or under Disney’s ownership.
In conclusion, FuboTV insiders, like Neil Glat, are placing their bets on the company’s long-term prospects, indicating a positive outlook for FUBO stock moving forward.
