Universal Music Group (OTCMKTS:UMGNF) Stock Now Rated “Hold” by Wall Street Brokerages

Universal Music Group (OTCMKTS:UMGNF) has received a consensus rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company.

UMGNF has been the topic of a number of recent research reports. Citigroup started coverage on shares of Universal Music Group in a report on Monday, August 17th. They issued a “buy” rating on the stock. Barclays upgraded shares of Universal Music Group from an “equal weight” rating to an “overweight” rating in a report on Friday, October 2nd. The Goldman Sachs Group started coverage on Universal Music Group in a report on Monday, July 20th. They issued a “hold” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of Universal Music Group in a research note on Tuesday, August 4th. Finally, Zacks Research raised shares of Universal Music Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th.

Universal Music Group Price Performance

Shares of OTCMKTS UMGNF opened at $17.74 on Friday. Universal Music Group has a 1 year low of $15.21 and a 1 year high of $28.02. The firm has a 50-day moving average of $16.88 and a 200 day moving average of $19.88.

About Universal Music Group

Universal Music Group N.V. is a global music-based entertainment company headquartered in Hilversum, the Netherlands. Its operations include recorded music, music publishing, artist services, merchandising and other music-related activities. The company works with artists and songwriters across a broad range of genres and distributes music through physical formats, digital platforms, streaming services and licensing agreements.

Universal Music Group owns and operates a large portfolio of record labels, including Universal Music, Republic Records, Island Records, Capitol Records, Interscope Geffen A&M, Def Jam Recordings, Motown Records, Verve and Deutsche Grammophon.