Universal Music Group (OTCMKTS:UMGNF) Receives Average Rating of “Hold” from Brokerages

Universal Music Group (OTCMKTS:UMGNF) has received an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company.

UMGNF has been the topic of several analyst reports. Wolfe Research assumed coverage on Universal Music Group in a research report on Friday, July 12th. They set a “peer perform” rating on the stock. Kepler Capital Markets cut shares of Universal Music Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Citigroup downgraded shares of Universal Music Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company cut shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 25th. Finally, HSBC raised Universal Music Group from a “reduce” rating to a “hold” rating in a research note on Monday, May 20th.

Universal Music Group Trading Up 2.2 %

Shares of OTCMKTS UMGNF opened at $26.15 on Monday. Universal Music Group has a fifty-two week low of $22.53 and a fifty-two week high of $32.24. The stock has a fifty day moving average of $27.64 and a 200-day moving average of $29.15.

Universal Music Group Company Profile

Universal Music Group N.V. operates as a music company worldwide. It operates through Recorded Music, Music Publishing, and Merchandising & Other segments. The Recorded Music segment discovers and develops recording artists, as well as markets and promotes their music across various formats and platforms; and engages in the live events, sponsorship, film, and television operations.