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

Universal Music Group (OTCMKTS:UMGNF) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company.

Several research analysts recently weighed in on UMGNF shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Universal Music Group in a research note on Tuesday, August 4th. Zacks Research cut 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 initiated coverage on shares of Universal Music Group in a report on Monday, July 20th. They issued a “hold” rating for the company. HSBC lowered shares of Universal Music Group from a “hold” rating to a “reduce” rating in a research report on Thursday, August 13th. Finally, Citigroup began coverage on shares of Universal Music Group in a report on Monday, August 17th. They issued a “buy” rating on the stock.

Universal Music Group Stock Performance

UMGNF stock opened at $16.68 on Thursday. The firm’s 50-day moving average is $19.29 and its two-hundred day moving average is $20.91. Universal Music Group has a 52 week low of $16.27 and a 52 week high of $30.04.

About Universal Music Group

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.