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

Shares of Universal Music Group (OTCMKTS:UMGNF) have been given an average rating of “Hold” by the eight research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company.

Several brokerages recently issued reports on UMGNF. Citigroup began coverage on Universal Music Group in a research note on Monday, August 17th. They issued a “buy” rating for the company. HSBC downgraded Universal Music Group from a “hold” rating to a “reduce” rating in a report on Thursday, August 13th. Morgan Stanley reissued an “overweight” rating on shares of Universal Music Group in a research report on Tuesday, August 4th. The Goldman Sachs Group assumed coverage on shares of Universal Music Group in a report on Monday, July 20th. They set a “hold” rating for the company. Finally, Zacks Research downgraded shares of Universal Music Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th.

Universal Music Group Trading Down 0.7%

Shares of UMGNF stock opened at $16.68 on Thursday. Universal Music Group has a 1-year low of $16.27 and a 1-year high of $30.04. The stock’s fifty day simple moving average is $19.29 and its 200-day simple moving average is $20.91.

Universal Music Group Company Profile

Universal Music Group (OTCMKTS:UMGNF) is one of the world’s leading music entertainment companies, engaged in recorded music, music publishing, merchandising and brand partnerships. The company’s recorded music division encompasses a roster of major labels—such as Interscope Geffen A&M, Capitol Music Group, Republic Records, Island Records and Decca—and works with a diverse array of artists across genres ranging from pop and hip-hop to classical and jazz. Its music publishing arm, Universal Music Publishing Group, administers and exploits compositions by both established songwriters and emerging talent, providing licensing services for film, television, advertising and digital platforms.

Headquartered in Santa Monica, California, Universal Music Group operates on a truly global scale with regional offices in North America, Europe, Latin America, Asia-Pacific and Africa.