BTIG Research Lowers Redbox Entertainment (NASDAQ:RDBX) to Neutral

Redbox Entertainment (NASDAQ:RDBX – Get Rating) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.

A number of other brokerages have also commented on RDBX. Zacks Investment Research upgraded Redbox Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 2nd. B. Riley cut their target price on Redbox Entertainment from $35.00 to $13.00 in a research note on Monday, February 7th. Wedbush cut their target price on Redbox Entertainment from $15.00 to $5.00 in a research note on Thursday, February 3rd. Finally, UBS Group cut their target price on Redbox Entertainment from $25.00 to $16.00 in a research note on Monday, January 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of 12.80.

Shares of RDBX stock opened at 2.07 on Monday. Redbox Entertainment has a 12 month low of 1.61 and a 12 month high of 27.22. The stock’s 50 day simple moving average is 2.20.

A number of large investors have recently made changes to their positions in RDBX. Apollo Management Holdings L.P. bought a new stake in Redbox Entertainment in the fourth quarter valued at $255,841,000. Standard General L.P. bought a new stake in Redbox Entertainment in the fourth quarter valued at $7,260,000. Kepos Capital LP bought a new stake in shares of Redbox Entertainment during the fourth quarter worth $815,000. B. Riley Asset Management LLC bought a new stake in shares of Redbox Entertainment during the fourth quarter worth $600,000. Finally, Geode Capital Management LLC bought a new stake in shares of Redbox Entertainment during the fourth quarter worth $440,000. Hedge funds and other institutional investors own 55.77% of the company’s stock.

Redbox Entertainment Company Profile (Get Rating)

Redbox Entertainment Inc operates a network of self-service kiosks in the United States. It operates a network of approximately 40,000 self-service kiosks, where consumers could rent or purchase new-release DVDs and Blu-ray Discs. The company provides installation, merchandising, and break-fix services to other kiosk businesses.

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