State Street Corp Grows Stock Position in Falcon's Beyond Global, Inc. $FBYD

Key Points

• State Street increased its Falcon’s Beyond Global position by 88.1% in the second quarter, bringing its holdings to 399,673 shares valued at approximately $7.16 million. Bank of New York Mellon also initiated a roughly $1.07 million stake.
• Falcon’s Beyond reported a quarterly loss of $0.01 per share on $5.62 million in revenue, alongside a negative 50.04% return on equity and an 8.60% net margin.
• The stock opened at $7.43, with a market capitalization of about $901 million, while analysts maintain a “Sell” consensus; shares have traded between $3.71 and $29.02 over the past year.

State Street Corp raised its holdings in shares of Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Free Report) by 88.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 399,673 shares of the company's stock after purchasing an additional 187,164 shares during the quarter. State Street Corp owned 0.33% of Falcon's Beyond Global worth $7,162,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Bank of New York Mellon Corp purchased a new stake in shares of Falcon's Beyond Global in the second quarter worth approximately $1,067,000. 38.88% of the stock is currently owned by institutional investors and hedge funds.

Falcon's Beyond Global Stock Up 10.1%

NASDAQ:FBYD opened at $7.43 on Friday. Falcon's Beyond Global, Inc. has a 1-year low of $3.71 and a 1-year high of $29.02. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $900.96 million, a P/E ratio of -74.30 and a beta of -2.60. The company's fifty day moving average price is $9.07 and its 200-day moving average price is $11.78.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FBYD shares. Wall Street Zen downgraded Falcon's Beyond Global from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Weiss Ratings cut shares of Falcon's Beyond Global from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell".

Falcon's Beyond Global Company Profile

Falcon's Beyond Global, Inc is an entertainment and development company focused on creating immersive attractions, destination resorts and branded experiences. The company combines storytelling, technology and intellectual property to develop theme parks and other location-based entertainment offerings.

Through its businesses, Falcon's Beyond provides attraction design, master planning, creative development and operational services for theme parks and resorts. Its activities also include developing entertainment brands and intellectual property for use across attractions, hospitality, consumer products, media and other forms of experiential entertainment.

The company's portfolio includes the Katmandu brand, which features themed attractions, parks and resort experiences.

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