Universal Music Group (OTCMKTS:UMGNF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Universal Music Group (OTCMKTS:UMGNF) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company.

Several analysts recently commented on the stock. Wells Fargo & Company lowered shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a research report on Monday. Morgan Stanley reiterated an “overweight” rating on shares of Universal Music Group in a research report on Friday, January 9th. Guggenheim upgraded Universal Music Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 31st. Finally, Moffett Nathanson began coverage on Universal Music Group in a report on Tuesday, January 27th. They issued a “buy” rating for the company.

Universal Music Group Price Performance

Shares of OTCMKTS:UMGNF remained flat at $19.88 during trading on Monday. 117,716 shares of the stock traded hands, compared to its average volume of 52,629. The business’s 50-day simple moving average is $21.73 and its two-hundred day simple moving average is $24.71. Universal Music Group has a 52-week low of $17.36 and a 52-week high of $33.77.

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.