Falcon’s Beyond Global (NASDAQ:FBYD) Shares Gap Up – Here’s Why

Falcon’s Beyond Global, Inc. (NASDAQ:FBYD) gapped up prior to trading on Thursday . The stock had previously closed at $10.72, but opened at $12.39. Falcon’s Beyond Global shares last traded at $12.1610, with a volume of 22,416 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Falcon’s Beyond Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Wall Street Zen upgraded Falcon’s Beyond Global from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Falcon’s Beyond Global Trading Down 3.4%

The business’s 50-day moving average price is $15.08 and its 200 day moving average price is $11.32. The company has a market cap of $1.47 billion, a P/E ratio of 57.48 and a beta of -2.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.45.

Institutional Trading of Falcon’s Beyond Global

A number of hedge funds have recently made changes to their positions in FBYD. Barclays PLC bought a new stake in Falcon’s Beyond Global in the 4th quarter valued at $343,000. Marshall Wace LLP acquired a new stake in shares of Falcon’s Beyond Global during the 4th quarter worth about $207,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Falcon’s Beyond Global during the 4th quarter worth about $658,000. State Street Corp boosted its holdings in shares of Falcon’s Beyond Global by 648.9% during the 4th quarter. State Street Corp now owns 153,824 shares of the company’s stock worth $2,309,000 after buying an additional 133,284 shares during the period. Finally, Wells Fargo & Company MN bought a new stake in shares of Falcon’s Beyond Global during the 4th quarter worth about $241,000. 38.88% of the stock is owned by institutional investors and hedge funds.

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.