Falcon’s Beyond Global (NASDAQ:FBYD) Stock Price Up 20.2% – Still a Buy?

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD)’s share price shot up 20.2% during mid-day trading on Wednesday . The company traded as high as $12.94 and last traded at $12.8860. Approximately 40,492 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 122,639 shares. The stock had previously closed at $10.72.

Analyst Ratings Changes

Several research firms have commented on FBYD. Wall Street Zen upgraded shares of Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a report 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 report on Thursday, June 25th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Falcon’s Beyond Global Price Performance

The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 58.29 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 stock has a fifty day moving average of $15.07 and a 200-day moving average of $11.29.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Falcon’s Beyond Global by 434.9% in the 3rd quarter. Vanguard Group Inc. now owns 439,813 shares of the company’s stock valued at $4,847,000 after buying an additional 357,589 shares during the last quarter. Geode Capital Management LLC lifted its position in Falcon’s Beyond Global by 86.2% in the fourth quarter. Geode Capital Management LLC now owns 317,709 shares of the company’s stock valued at $4,770,000 after acquiring an additional 147,056 shares during the last quarter. Invesco Ltd. acquired a new position in Falcon’s Beyond Global in the fourth quarter valued at $2,555,000. State Street Corp boosted its stake in Falcon’s Beyond Global by 648.9% in the fourth quarter. State Street Corp now owns 153,824 shares of the company’s stock valued at $2,309,000 after acquiring an additional 133,284 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new position in Falcon’s Beyond Global in the fourth quarter valued at $658,000. 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.