Universal Music Group (OTCMKTS:UMGNF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Universal Music Group (OTCMKTS:UMGNF) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company.

UMGNF has been the subject of several recent analyst reports. Zacks Research upgraded Universal Music Group to a “hold” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group assumed coverage on shares of Universal Music Group in a research report on Monday. They set a “hold” rating for the company. Wells Fargo & Company downgraded shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Finally, Guggenheim upgraded shares of Universal Music Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 31st.

Universal Music Group Trading Up 0.4%

OTCMKTS:UMGNF opened at $21.11 on Wednesday. The stock has a 50-day moving average price of $21.71 and a 200 day moving average price of $22.37. Universal Music Group has a 12-month low of $17.36 and a 12-month high of $33.77.

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.