Falcon’s Beyond Global (NASDAQ:FBYD) Shares Down 7.2% – Here’s What Happened

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) shares dropped 7.2% during mid-day trading on Wednesday . The stock traded as low as $17.22 and last traded at $17.42. Approximately 18,669 shares traded hands during trading, a decline of 85% from the average session volume of 122,057 shares. The stock had previously closed at $18.78.

Analysts Set New Price Targets

FBYD has been the subject of several research reports. Weiss Ratings raised Falcon’s Beyond Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. Wall Street Zen raised shares of Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Falcon’s Beyond Global Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market capitalization of $1.76 billion, a PE ratio of 67.46 and a beta of -2.84. The stock’s 50-day simple moving average is $15.23 and its 200 day simple moving average is $11.46.

Hedge Funds Weigh In On Falcon’s Beyond Global

Hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in shares of Falcon’s Beyond Global in the 4th quarter valued at $30,000. Strs Ohio purchased a new stake in Falcon’s Beyond Global in the fourth quarter valued at $39,000. Bank of America Corp DE boosted its stake in Falcon’s Beyond Global by 8,008.5% in the third quarter. Bank of America Corp DE now owns 3,811 shares of the company’s stock valued at $42,000 after acquiring an additional 3,764 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Falcon’s Beyond Global in the fourth quarter valued at $47,000. Finally, Clear Street Group Inc. acquired a new position in Falcon’s Beyond Global in the third quarter valued at $53,000. 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.