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

Shares of Universal Music Group (OTCMKTS:UMGNF) have received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company.

A number of research analysts recently issued reports on UMGNF shares. Barclays downgraded shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 25th. Wolfe Research upgraded shares of Universal Music Group from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, October 15th. Citigroup cut Universal Music Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Wells Fargo & Company cut Universal Music Group from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 25th. Finally, Kepler Capital Markets lowered Universal Music Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th.

Universal Music Group Trading Down 2.3 %

Shares of UMGNF opened at $24.70 on Friday. Universal Music Group has a 1 year low of $22.53 and a 1 year high of $32.24. The stock has a 50-day simple moving average of $25.92 and a 200-day simple moving average of $27.86.

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.