Universal Music Group (OTCMKTS:UMGNF) Receives Average Rating of “Hold” from Brokerages

Universal Music Group (OTCMKTS:UMGNF) has been given an average recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company.

A number of equities analysts recently weighed in on 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. The Goldman Sachs Group started coverage on shares of Universal Music Group in a research note on Monday, July 20th. They set a “hold” rating for the company. Morgan Stanley reiterated an “overweight” rating on shares of Universal Music Group in a report on Tuesday, August 4th. Finally, HSBC downgraded shares of Universal Music Group from a “hold” rating to a “reduce” rating in a research report on Thursday.

Universal Music Group Stock Down 2.0%

Shares of Universal Music Group stock opened at $16.83 on Friday. Universal Music Group has a 12-month low of $16.27 and a 12-month high of $30.04. The stock’s fifty day moving average is $20.31 and its 200-day moving average is $21.59.

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.