Universal Music Group (OTCMKTS:UMGNF) Short Interest Up 26.4% in July

Universal Music Group (OTCMKTS:UMGNF) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 8,340,300 shares, a growth of 26.4% from the June 30th total of 6,599,500 shares. Based on an average daily volume of 2,800 shares, the short-interest ratio is currently 2,978.7 days.

Universal Music Group Price Performance

OTCMKTS UMGNF opened at $23.38 on Friday. The business’s 50 day moving average price is $30.25 and its 200-day moving average price is $29.88. Universal Music Group has a fifty-two week low of $22.60 and a fifty-two week high of $32.24.

Analyst Ratings Changes

UMGNF has been the subject of a number of recent research reports. Barclays downgraded shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a research report on Thursday. HSBC raised Universal Music Group from a “reduce” rating to a “hold” rating in a report on Monday, May 20th. Citigroup cut Universal Music Group from a “buy” rating to a “neutral” rating in a research report on Thursday. Kepler Capital Markets downgraded Universal Music Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Wolfe Research assumed coverage on shares of Universal Music Group in a research report on Friday, July 12th. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Universal Music Group has a consensus rating of “Hold” and a consensus target price of $26.50.

Universal Music Group Company Profile

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.