NEW YORK—Horihuela Alberto, Chief Operating Officer of fuboTV Inc. (NYSE:FUBO), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Alberto sold 433,205 shares of fuboTV common stock over two days, generating approximately $2.61 million. The shares were sold at prices ranging from $5.998 to $6.029 per share. The timing is notable as InvestingPro data shows FUBO has delivered a remarkable 325% return over the past six months, with the stock's RSI indicating overbought territory.
These transactions were conducted as part of a pre-established Rule 10b5-1 trading plan, which Alberto adopted on June 21, 2023. The plan allows corporate insiders to set up a predetermined schedule for selling shares. According to InvestingPro analysis, FUBO currently shows a FAIR overall financial health score, though the company faces challenges with weak gross profit margins of about 11%.
In addition to the sales, Alberto also acquired shares through the exercise of stock options. The total value of shares acquired through these exercises was approximately $515,577, with exercise prices ranging from $0.219 to $1.989 per share.
Following these transactions, Alberto retains ownership of 1,447,351 shares in the company.
In other recent news, FuboTV (NYSE:FUBO) and Walt Disney (NYSE:DIS) Co. are reportedly nearing a merger of their online live TV services, with Disney owning 70% of the new entity and FuboTV holding the remaining shares. The merger, excluding Hulu's subscription video service, would make the combined services the second-largest digital pay-TV provider. Concurrently, FuboTV has expanded its offerings by partnering with NBCUniversal to launch 18 free ad-supported television channels, enhancing its existing lineup with a broad range of sports, entertainment, news, and Latino programming.
On the financial side, FuboTV demonstrated robust performance in Q3 2024, with total revenue growing by 21% year-over-year to $377 million and paid subscribers increasing by 9% to 1.613 million. The company also reported a near $100 million year-over-year improvement in adjusted EBITDA. Despite these positive developments, FuboTV faced an 11% dip in advertising revenue due to challenging year-over-year comparisons.
In a bid to enhance audience engagement, FuboTV introduced a series of new interactive Connected TV ad formats, which offer advertisers a range of dynamic and personalized experiences. The company anticipates a Q4 2024 North America subscriber count between 1.665 million and 1.705 million, with revenue guidance ranging from $426 million to $446 million. These recent developments underscore FuboTV's resilience and adaptability in the fast-paced streaming industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.