Universal Music Group (OTCMKTS:UMGNF) Rating Lowered to “Strong Sell” at Zacks Research

Universal Music Group (OTCMKTS:UMGNF) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on UMGNF. Morgan Stanley restated an “overweight” rating on shares of Universal Music Group in a report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Universal Music Group in a research note on Monday, July 20th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Universal Music Group Stock Up 1.6%

Shares of Universal Music Group stock opened at $17.32 on Wednesday. Universal Music Group has a 52 week low of $16.27 and a 52 week high of $30.04. The business’s fifty day simple moving average is $20.74 and its 200-day simple moving average is $21.84.

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.