Universal Music Group (OTCMKTS:UMGNF) Stock Rating Raised to Hold at Zacks Research

Universal Music Group (OTCMKTS:UMGNF) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Several other research firms have also weighed in on UMGNF. Citigroup initiated coverage on shares of Universal Music Group in a research note on Monday, August 17th. They set a “buy” rating on the stock. HSBC downgraded Universal Music Group from a “hold” rating to a “reduce” rating in a research note on Thursday, August 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Universal Music Group in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group began coverage on Universal Music Group in a research report on Monday, July 20th. They set a “hold” rating on the stock. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Universal Music Group presently has an average rating of “Hold”.

Universal Music Group Stock Performance

Universal Music Group stock opened at $16.10 on Tuesday. Universal Music Group has a 1 year low of $16.00 and a 1 year high of $29.99. The firm’s 50-day moving average is $17.49 and its 200-day moving average is $20.13.

About Universal Music Group

Universal Music Group N.V. (OTCMKTS:UMGNF) is a global music and entertainment company headquartered in Hilversum, the Netherlands. Its businesses span recorded music, music publishing, artist services, merchandising, brand partnerships and audiovisual content.

Through its recorded-music operations, Universal Music Group signs and develops artists, releases music and manages catalogs across a broad range of genres. Its portfolio includes labels such as Capitol Music Group, Republic Records, Interscope Geffen A&M, Island Records, Def Jam Recordings, Motown Records and Universal Music Latin Entertainment.