Wedbush Downgrades Redbox Entertainment (NASDAQ:RDBX) to Neutral

Redbox Entertainment (NASDAQ:RDBXGet Rating) was downgraded by equities research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.

Several other research firms have also recently commented on RDBX. Canaccord Genuity Group reduced their price target on Redbox Entertainment from $16.00 to $3.00 in a report on Wednesday, April 20th. Canaccord Genuity Group reduced their price target on Redbox Entertainment from $16.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. Zacks Investment Research raised Redbox Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, May 5th. B. Riley dropped their price objective on Redbox Entertainment from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Finally, BTIG Research downgraded Redbox Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, April 18th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of 9.57.

Shares of RDBX traded up 1.03 during mid-day trading on Wednesday, hitting 3.91. The company’s stock had a trading volume of 16,411,800 shares, compared to its average volume of 7,919,339. The firm has a 50-day simple moving average of 3.19 and a 200 day simple moving average of 5.92. Redbox Entertainment has a 1-year low of 1.61 and a 1-year high of 27.22.

Several large investors have recently made changes to their positions in the company. National Asset Management Inc. acquired a new position in Redbox Entertainment in the first quarter valued at $30,000. Goldman Sachs Group Inc. acquired a new position in Redbox Entertainment in the first quarter valued at $36,000. Jane Street Group LLC acquired a new position in Redbox Entertainment in the first quarter valued at $52,000. Squarepoint Ops LLC acquired a new position in Redbox Entertainment in the fourth quarter valued at $104,000. Finally, State Street Corp acquired a new position in Redbox Entertainment in the first quarter valued at $115,000.

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 38,000 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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