Short Interest in Universal Music Group (OTCMKTS:UMGNF) Decreases By 14.7%

Universal Music Group (OTCMKTS:UMGNF) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 7,488,900 shares, a decrease of 14.7% from the August 31st total of 8,783,400 shares. Based on an average trading volume of 12,700 shares, the short-interest ratio is currently 589.7 days.

Universal Music Group Trading Down 0.4 %

Shares of UMGNF stock opened at $26.53 on Friday. Universal Music Group has a 12 month low of $22.53 and a 12 month high of $32.24. The stock has a 50 day moving average of $25.58 and a two-hundred day moving average of $28.59.

Wall Street Analysts Forecast Growth

UMGNF has been the topic of a number of research reports. Barclays downgraded Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 25th. Guggenheim lowered Universal Music Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Citigroup downgraded Universal Music Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. BNP Paribas raised Universal Music Group from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 29th. Finally, Wolfe Research initiated coverage on Universal Music Group in a research report on Friday, July 12th. They issued a “peer perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.00.

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.