Falcon's Beyond Global (NASDAQ:FBYD) Shares Gap Down - Here's What Happened

Key Points

• Shares of Falcon's Beyond Global (FBYD) gapped down premarket Tuesday, opening at $11.74 after a $12.18 close and last trading around $11.34, roughly an 8.0% intraday decline.
• Analyst sentiment is weak with a MarketBeat consensus of "Sell", though Wall Street Zen recently upgraded the stock to a "Hold" while Weiss Ratings reiterated a "sell (d+)".
• The company reported ($0.01) EPS on $6.59M in revenue, has a very high trailing PE (~374x) and negative ROE (-164%), and institutional ownership is sizable (38.9%) with Vanguard increasing its stake by 434.9% last quarter.

Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.18, but opened at $11.74. Falcon's Beyond Global shares last traded at $11.34, with a volume of 5,221 shares changing hands.

Analysts Set New Price Targets

FBYD has been the topic of several recent research reports. Wall Street Zen raised shares of Falcon's Beyond Global from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings restated a "sell (d+)" rating on shares of Falcon's Beyond Global in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Sell".

Falcon's Beyond Global Stock Down 8.0%

The company has a market capitalization of $1.36 billion, a PE ratio of 374.33 and a beta of -3.77. The firm's 50-day simple moving average is $6.82 and its 200 day simple moving average is $10.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31.

Falcon's Beyond Global (NASDAQ:FBYD - Get Free Report) last issued its earnings results on Monday, March 30th. The company reported ($0.01) EPS for the quarter. The company had revenue of $6.59 million for the quarter. Falcon's Beyond Global had a negative return on equity of 164.17% and a net margin of 19.06%.

Institutional Investors Weigh In On Falcon's Beyond Global

Several institutional investors and hedge funds have recently made changes to their positions in FBYD. AllGen Financial Advisors Inc. boosted its position in shares of Falcon's Beyond Global by 79.8% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 43,173 shares of the company's stock worth $476,000 after buying an additional 19,157 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Falcon's Beyond Global by 21.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,739 shares of the company's stock worth $559,000 after buying an additional 9,082 shares in the last quarter. Vanguard Group Inc. boosted 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 worth $4,847,000 after buying an additional 357,589 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Falcon's Beyond Global by 8,008.5% in 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 in the last quarter. Finally, Clear Street Group Inc. purchased a new stake in shares of Falcon's Beyond Global in the 3rd quarter worth about $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.

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