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

Shares of Universal Music Group (OTCMKTS:UMGNF) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company.

A number of brokerages recently issued reports on UMGNF. Wolfe Research initiated coverage on Universal Music Group in a research report on Friday, July 12th. They set a “peer perform” rating on the stock. HSBC raised shares of Universal Music Group from a “reduce” rating to a “hold” rating in a research report on Monday, May 20th. Citigroup lowered shares of Universal Music Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Barclays downgraded shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 25th. Finally, Kepler Capital Markets downgraded shares of Universal Music Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th.

Universal Music Group Price Performance

OTCMKTS UMGNF opened at $26.15 on Friday. The firm has a 50-day moving average price of $26.42 and a two-hundred day moving average price of $28.83. Universal Music Group has a 12-month low of $22.53 and a 12-month 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.