Falcon's Beyond Global (NASDAQ:FBYD) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Falcon's Beyond Global was downgraded to “sell” by Wall Street Zen from “hold,” while Weiss Ratings also lowered its rating to “sell.” MarketBeat data shows the stock has an average rating of “Sell.”
• Shares fell 1.2% to $9.87, well below the 52-week high of $29.02. The company reported a quarterly loss of $0.01 per share on revenue of $5.62 million, alongside negative net margin and return on equity.
• Hedge funds and institutional investors own 38.88% of the company, with several institutions recently initiating or increasing positions in Falcon's Beyond Global.

Falcon's Beyond Global (NASDAQ:FBYD - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Separately, Weiss Ratings cut Falcon's Beyond Global from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of "Sell".

Falcon's Beyond Global Stock Down 1.2%

NASDAQ:FBYD traded down $0.12 during trading hours on Friday, hitting $9.87. The company's stock had a trading volume of 76,568 shares, compared to its average volume of 90,295. Falcon's Beyond Global has a 52-week low of $3.71 and a 52-week high of $29.02. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.20 billion, a P/E ratio of -98.70 and a beta of -2.57. The stock has a fifty day moving average of $12.62 and a 200-day moving average of $11.53.

Falcon's Beyond Global (NASDAQ:FBYD - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. Falcon's Beyond Global had a negative return on equity of 50.04% and a negative net margin of 8.60%.The business had revenue of $5.62 million for the quarter.

Hedge Funds Weigh In On Falcon's Beyond Global

Several hedge funds have recently made changes to their positions in FBYD. Global Retirement Partners LLC purchased a new stake in shares of Falcon's Beyond Global in the 4th quarter valued at about $30,000. Strs Ohio purchased a new position in Falcon's Beyond Global during the 4th quarter worth approximately $39,000. Bank of America Corp DE grew its stake in Falcon's Beyond Global by 8,008.5% during the 3rd quarter. Bank of America Corp DE now owns 3,811 shares of the company's stock worth $42,000 after buying an additional 3,764 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Falcon's Beyond Global during the fourth quarter worth approximately $47,000. Finally, California State Teachers Retirement System increased its position in Falcon's Beyond Global by 633.5% during the second quarter. California State Teachers Retirement System now owns 6,917 shares of the company's stock worth $124,000 after buying an additional 5,974 shares during the period. Hedge funds and other institutional investors own 38.88% of the company's stock.

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.

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