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

Universal Music Group (OTCMKTS:UMGNF) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company.

UMGNF has been the subject of several recent analyst reports. Moffett Nathanson initiated coverage on Universal Music Group in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Wells Fargo & Company downgraded Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Finally, Guggenheim raised Universal Music Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 31st.

Universal Music Group Stock Performance

Shares of UMGNF opened at $23.61 on Tuesday. The business’s fifty day simple moving average is $21.83 and its two-hundred day simple moving average is $23.64. Universal Music Group has a 12 month low of $17.36 and a 12 month high of $33.77.

Universal Music Group Company Profile

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.