Universal Music Group (OTCMKTS:UMGNF) Trading 2.9% Higher – Should You Buy?

Universal Music Group (OTCMKTS:UMGNF)’s stock price was up 2.9% during trading on Friday . The company traded as high as $25.8276 and last traded at $25.8276. Approximately 5,771 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 10,301 shares. The stock had previously closed at $25.11.

Analysts Set New Price Targets

Separately, Morgan Stanley reissued an “overweight” rating on shares of Universal Music Group in a report on Friday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Universal Music Group presently has a consensus rating of “Moderate Buy”.

Universal Music Group Stock Performance

The stock’s 50 day moving average is $25.67 and its 200 day moving average is $27.97.

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.