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B. Riley lowers Redbox Entertainment (NASDAQ:RDBX) to sell

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Redbox Entertainment (NASDAQ: RDBXGet a rating) was downgraded by analysts at B. Riley from a “neutral” rating to a “sell” rating in a note released Friday to investors, Fly reports.

RDBX has been the subject of several other reports. Canaccord Genuity Group lowered its price target on Redbox Entertainment from $16.00 to $3.00 in a Wednesday, April 20 research note. Canaccord Genuity Group lowered its price target on Redbox Entertainment shares from $16.00 to $3.00 and set a “buy” rating for the company in a Wednesday, April 20 research note. Wedbush downgraded shares of Redbox Entertainment from an “outperforming” rating to a “neutral” rating in a Wednesday, May 11 research note. BTIG Research upgraded shares of Redbox Entertainment from a “buy” rating to a “neutral” rating in a Monday, April 18 research rating. To finish, Zacks Investment Research upgraded shares of Redbox Entertainment from a “sell” rating to a “hold” rating in a report Thursday. One financial analyst has assigned the stock a sell rating, three have assigned a hold rating and two have assigned the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of 9.57.

Shares of NASDAQ RDBX was trading up 0.16 during Friday’s midday session, hitting 7.71. 24,635,200 shares of the company were traded, compared to its average volume of 9,664,311. Redbox Entertainment has a 1-year low of 1.61 and a 1-year high of 27.22. The company’s 50-day moving average is 3.78 and its two-hundred-day moving average is 5.50.

A number of institutional investors and hedge funds have recently changed their positions in RDBX. Jane Street Group LLC purchased a new stake in Redbox Entertainment in Q1 worth approximately $52,000. Goldman Sachs Group Inc. bought a new stake in shares of Redbox Entertainment in the first quarter worth approximately $36,000. State Street Corp bought a new stake in Redbox Entertainment in the first quarter worth approximately $115,000. National Asset Management Inc. bought a new position in Redbox Entertainment during Q1 worth approximately $30,000. Finally, Virtu Financial LLC purchased a new position in Redbox Entertainment during Q4, valued at approximately $253,000.

About Redbox Entertainment (Get a 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 can rent or purchase newly released DVDs and Blu-ray discs. The company provides installation, merchandising and troubleshooting services to other kiosk businesses.

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