Universal Music Group (OTCMKTS:UMGNF) Upgraded at Guggenheim

Guggenheim upgraded shares of Universal Music Group (OTCMKTS:UMGNF) from a neutral rating to a buy rating in a research note released on Tuesday morning, Marketbeat reports.

Several other equities research analysts have also recently commented on UMGNF. Morgan Stanley reaffirmed an “overweight” rating on shares of Universal Music Group in a research report on Friday, January 9th. Moffett Nathanson started coverage on Universal Music Group in a report on Tuesday, January 27th. They set a “buy” rating for the company. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Universal Music Group currently has a consensus rating of “Moderate Buy”.

Universal Music Group Price Performance

Shares of UMGNF stock opened at $19.88 on Tuesday. The firm has a fifty day moving average of $21.83 and a 200-day moving average of $24.84. Universal Music Group has a 12-month low of $17.36 and a 12-month high of $33.77.

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.