Universal Music Group (OTCMKTS:UMGNF) Short Interest Down 43.8% in May

Universal Music Group (OTCMKTS:UMGNF) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 5,283,578 shares, a drop of 43.8% from the May 14th total of 9,404,358 shares. Based on an average daily volume of 37,361 shares, the short-interest ratio is currently 141.4 days.

Analyst Ratings Changes

UMGNF has been the topic of a number of recent analyst reports. Guggenheim upgraded Universal Music Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 31st. Wells Fargo & Company cut Universal Music Group from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Universal Music Group presently has a consensus rating of “Moderate Buy”.

Universal Music Group Trading Up 0.6%

Universal Music Group stock opened at $20.78 on Tuesday. Universal Music Group has a 12-month low of $17.36 and a 12-month high of $33.77. The business’s 50-day moving average price is $22.56 and its two-hundred day moving average price is $23.19.

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.