Falcon’s Beyond Global (NASDAQ:FBYD) Stock Price Down 6.4% – Here’s Why

Shares of Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) traded down 6.4% during mid-day trading on Friday . The stock traded as low as $11.80 and last traded at $11.46. Approximately 7,333 shares changed hands during trading, a decline of 94% from the average daily volume of 123,552 shares. The stock had previously closed at $12.24.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FBYD shares. Weiss Ratings raised Falcon’s Beyond Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Wall Street Zen raised Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Falcon’s Beyond Global Trading Down 9.3%

The company has a market cap of $1.35 billion, a PE ratio of 52.86 and a beta of -2.84. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $15.06 and a 200-day simple moving average of $11.29.

Hedge Funds Weigh In On Falcon’s Beyond Global

A number of hedge funds and other institutional investors have recently bought and sold shares of FBYD. Barclays PLC purchased a new position in Falcon’s Beyond Global in the 4th quarter valued at approximately $343,000. Marshall Wace LLP acquired a new position in shares of Falcon’s Beyond Global in the fourth quarter worth $207,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Falcon’s Beyond Global during the fourth quarter worth $658,000. State Street Corp increased its position in shares of Falcon’s Beyond Global by 648.9% during the fourth quarter. State Street Corp now owns 153,824 shares of the company’s stock worth $2,309,000 after acquiring an additional 133,284 shares during the period. Finally, Wells Fargo & Company MN acquired a new stake in shares of Falcon’s Beyond Global in the fourth quarter valued at $241,000. 38.88% of the stock is currently owned by hedge funds and other institutional investors.

Falcon’s Beyond Global Company Profile

Falcon’s Beyond Global, Inc is an experiential entertainment development enterprise. It connects the world by bringing stories to life through theme parks, resorts, animation, consumer products, gaming, and movies. The company propels intellectual property activations concurrently across physical and digital experiences through three core business units. Falcon’s Creative Group is a themed entertainment and master planning firm. Falcon’s Beyond Destinations develops, owns, and operates global entertainment destinations from resorts, theme parks, and attractions to retail, dining and location-based entertainment venues.