Universal Music Group (OTCMKTS:UMGNF) Short Interest Up 54.9% in July

Universal Music Group (OTCMKTS:UMGNF) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 8,423,041 shares, an increase of 54.9% from the July 15th total of 5,436,013 shares. Approximately 361.5% of the company’s stock are sold short. Based on an average trading volume of 38,037 shares, the days-to-cover ratio is presently 221.4 days.

Universal Music Group Stock Up 0.6%

Shares of Universal Music Group stock opened at $17.27 on Thursday. 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 $20.03 and its 200-day moving average is $21.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley reissued an “overweight” rating on shares of Universal Music Group in a research report on Tuesday, August 4th. The Goldman Sachs Group initiated coverage on shares of Universal Music Group in a report on Monday, July 20th. They set a “hold” rating on the stock. Zacks Research downgraded Universal Music Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. HSBC lowered shares of Universal Music Group from a “hold” rating to a “reduce” rating in a research note on Thursday, August 13th. Finally, Citigroup initiated coverage on Universal Music Group in a research note on Monday. They issued a “buy” rating for the company. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Universal Music Group presently has a consensus rating of “Hold”.

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.