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

Universal Music Group (OTCMKTS:UMGNF) has been given an average recommendation of “Hold” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company.

Several equities research analysts recently issued reports on the stock. Barclays cut shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 25th. Wolfe Research started coverage on Universal Music Group in a report on Friday, July 12th. They issued a “peer perform” rating for the company. Wells Fargo & Company downgraded Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 25th. Kepler Capital Markets downgraded Universal Music Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Citigroup cut shares of Universal Music Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th.

Universal Music Group Stock Performance

UMGNF opened at $25.97 on Friday. The company’s 50-day simple moving average is $26.10 and its two-hundred day simple moving average is $28.74. Universal Music Group has a 52-week low of $22.53 and a 52-week high of $32.24.

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.