Universal Music Group (OTCMKTS:UMGNF) Given Average Recommendation of “Hold” by Analysts

Universal Music Group (OTCMKTS:UMGNF) has earned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company.

UMGNF has been the topic of several analyst reports. Kepler Capital Markets cut shares of Universal Music Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Wolfe Research initiated coverage on Universal Music Group in a research note on Friday, July 12th. They issued a “peer perform” rating for the company. BNP Paribas raised Universal Music Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 29th. Guggenheim downgraded shares of Universal Music Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, Barclays downgraded shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 25th.

Universal Music Group Stock Down 1.4 %

OTCMKTS UMGNF opened at $25.65 on Tuesday. The firm’s fifty day moving average price is $25.69 and its two-hundred day moving average price is $28.33. Universal Music Group has a fifty-two week low of $22.53 and a fifty-two week high of $32.24.

About Universal Music Group

Universal Music Group N.V. operates as a music company worldwide. It operates through Recorded Music, Music Publishing, and Merchandising & Other segments. The Recorded Music segment discovers and develops recording artists, as well as markets and promotes their music across various formats and platforms; and engages in the live events, sponsorship, film, and television operations.