Universal Music Group (OTCMKTS:UMGNF) Receives Consensus Rating of “Hold” from Brokerages

Universal Music Group (OTCMKTS:UMGNF) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company.

Several equities analysts have commented on UMGNF shares. HSBC lowered shares of Universal Music Group from a “hold” rating to a “reduce” rating in a report on Thursday, August 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Universal Music Group in a report on Tuesday, August 4th. Zacks Research lowered shares of Universal Music Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group started coverage on shares of Universal Music Group in a research note on Monday, July 20th. They issued a “hold” rating on the stock. Finally, Citigroup started coverage on shares of Universal Music Group in a research report on Monday, August 17th. They set a “buy” rating for the company.

Universal Music Group Stock Down 0.4%

UMGNF stock opened at $16.48 on Thursday. Universal Music Group has a 52 week low of $16.27 and a 52 week high of $30.04. The business has a 50-day simple moving average of $18.86 and a 200 day simple moving average of $20.68.

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.