Falcon’s Beyond Global (NASDAQ:FBYD) Shares Down 9.4% – Here’s What Happened

Shares of Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) traded down 9.4% during trading on Friday . The stock traded as low as $15.49 and last traded at $15.2670. Approximately 59,046 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 106,569 shares. The stock had previously closed at $16.86.

Analysts Set New Price Targets

FBYD has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded shares of Falcon’s Beyond Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Falcon’s Beyond Global Trading Down 4.9%

The company has a fifty day moving average of $14.62 and a two-hundred day moving average of $11.28. 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 stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 76.33 and a beta of -2.84.

Falcon’s Beyond Global (NASDAQ:FBYD) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.01) earnings per share (EPS) for the quarter. Falcon’s Beyond Global had a net margin of 51.31% and a negative return on equity of 8.25%. The firm had revenue of $6.58 million during the quarter.

Institutional Investors Weigh In On Falcon’s Beyond Global

A number of hedge funds have recently added to or reduced their stakes in FBYD. Charles Schwab Investment Management Inc. acquired a new position in Falcon’s Beyond Global during the 4th quarter worth approximately $658,000. Nuveen LLC acquired a new stake in shares of Falcon’s Beyond Global in the 4th quarter valued at approximately $264,000. Wells Fargo & Company MN acquired a new stake in shares of Falcon’s Beyond Global in the 4th quarter valued at approximately $241,000. Goldman Sachs Group Inc. purchased a new stake in shares of Falcon’s Beyond Global in the fourth quarter valued at approximately $211,000. Finally, Marshall Wace LLP purchased a new stake in shares of Falcon’s Beyond Global in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 38.88% of the company’s stock.

About Falcon’s Beyond Global

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.