Universal Music Group (OTCMKTS:UMGNF) Stock Now Rated “Hold” by Sell-Side Analysts

Universal Music Group (OTCMKTS:UMGNF) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company.

A number of equities analysts have recently commented on UMGNF shares. The Goldman Sachs Group began coverage on shares of Universal Music Group in a research note on Monday, July 20th. They issued a “hold” rating on the stock. Citigroup initiated coverage on shares of Universal Music Group in a research report on Monday, August 17th. They set a “buy” rating for the company. Zacks Research cut Universal Music Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Universal Music Group in a research report on Tuesday, August 4th. Finally, HSBC lowered Universal Music Group from a “hold” rating to a “reduce” rating in a research note on Thursday, August 13th.

Universal Music Group Stock Down 3.1%

Shares of UMGNF stock opened at $16.10 on Monday. Universal Music Group has a fifty-two week low of $16.00 and a fifty-two week high of $29.99. The firm’s 50 day moving average price is $17.49 and its two-hundred day moving average price is $20.13.

About Universal Music Group

Universal Music Group N.V. (OTCMKTS:UMGNF) is a global music and entertainment company headquartered in Hilversum, the Netherlands. Its businesses span recorded music, music publishing, artist services, merchandising, brand partnerships and audiovisual content.

Through its recorded-music operations, Universal Music Group signs and develops artists, releases music and manages catalogs across a broad range of genres. Its portfolio includes labels such as Capitol Music Group, Republic Records, Interscope Geffen A&M, Island Records, Def Jam Recordings, Motown Records and Universal Music Latin Entertainment.