Redbox Entertainment (NASDAQ:RDBX – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Redbox is an entertainment company. It offer digital streaming service which provides both ad supported and paid movies from Hollywood studios and content partners, as well as channels of free ad supported streaming television. Redbox, formerly known as Seaport Global Acquisition Corp., is based in NEW YORK. “

A number of other equities research analysts also recently weighed in on RDBX. B. Riley downgraded Redbox Entertainment from a “neutral” rating to a “sell” rating in a report on Friday, May 27th. BTIG Research downgraded Redbox Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, April 18th. Wedbush downgraded Redbox Entertainment from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 11th. Canaccord Genuity Group lowered their target price on Redbox Entertainment from $16.00 to $3.00 in a report on Wednesday, April 20th. Finally, Canaccord Genuity Group decreased their price objective on Redbox Entertainment from $16.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of 9.57.

Redbox Entertainment stock opened at 5.61 on Thursday. The stock’s 50 day moving average is 4.00 and its 200 day moving average is 5.36. Redbox Entertainment has a one year low of 1.61 and a one year high of 27.22.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Redbox Entertainment in the 1st quarter worth about $52,000. Goldman Sachs Group Inc. bought a new position in Redbox Entertainment in the 1st quarter worth about $36,000. State Street Corp bought a new position in Redbox Entertainment in the 1st quarter worth about $115,000. National Asset Management Inc. bought a new position in shares of Redbox Entertainment during the 1st quarter valued at about $30,000. Finally, Virtu Financial LLC bought a new position in shares of Redbox Entertainment during the 4th quarter valued at about $253,000.

About Redbox Entertainment (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.

Read More

Get a free copy of the Zacks research report on Redbox Entertainment (RDBX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Redbox Entertainment Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Redbox Entertainment and related companies with MarketBeat.com’s FREE daily email newsletter.