Falcon's Beyond Global (NASDAQ:FBYD) Trading Down 6.9% - Here's What Happened

Key Points

• Falcon’s Beyond Global shares fell 6.9% to about $10.49 in midday trading, with trading volume down 70% from the average session.
• Weiss Ratings downgraded the stock from “hold (c-)” to “sell (d)”; MarketBeat reports the company has an overall “Sell” rating from analysts.
• The company reported a quarterly loss of $0.01 per share on $5.62 million in revenue, alongside a negative net margin of 8.60% and negative return on equity of 50.04%.

Shares of Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report) fell 6.9% during mid-day trading on Wednesday . The company traded as low as $10.50 and last traded at $10.4850. 35,909 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 120,448 shares. The stock had previously closed at $11.26.

Wall Street Analyst Weigh In

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

Falcon's Beyond Global Stock Down 6.8%

The firm's 50-day moving average price is $12.99 and its 200-day moving average price is $11.47. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -104.91 and a beta of -2.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66.

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

Institutional Trading of Falcon's Beyond Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Falcon's Beyond Global by 434.9% in the third quarter. Vanguard Group Inc. now owns 439,813 shares of the company's stock worth $4,847,000 after purchasing an additional 357,589 shares during the period. Invesco Ltd. bought a new position in shares of Falcon's Beyond Global during the fourth quarter worth about $2,555,000. Geode Capital Management LLC grew its holdings in Falcon's Beyond Global by 86.2% in the 4th quarter. Geode Capital Management LLC now owns 317,709 shares of the company's stock worth $4,770,000 after buying an additional 147,056 shares in the last quarter. State Street Corp grew its position in Falcon's Beyond Global by 648.9% in the 4th quarter. State Street Corp now owns 153,824 shares of the company's stock valued at $2,309,000 after buying an additional 133,284 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Falcon's Beyond Global during the 2nd quarter valued at about $1,067,000. 38.88% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source