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

Universal Music Group (OTCMKTS:UMGNF) has earned an average rating of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company.

Several research firms have recently weighed in on UMGNF. The Goldman Sachs Group began coverage on shares of Universal Music Group in a report on Monday, July 20th. They set a “hold” rating for the company. Zacks Research raised Universal Music Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. HSBC lowered Universal Music Group from a “hold” rating to a “reduce” rating in a research note on Thursday, August 13th. Morgan Stanley reiterated an “overweight” rating on shares of Universal Music Group in a research report on Tuesday, August 4th. Finally, Barclays raised shares of Universal Music Group from an “equal weight” rating to an “overweight” rating in a report on Friday.

Universal Music Group Price Performance

Universal Music Group stock opened at $15.85 on Monday. The firm has a fifty day moving average of $17.30 and a 200-day moving average of $20.07. Universal Music Group has a 52-week low of $15.21 and a 52-week high of $29.55.

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.