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

Shares of Universal Music Group (OTCMKTS:UMGNF) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company.

Several brokerages have recently weighed in on UMGNF. Zacks Research raised Universal Music Group to a “hold” rating in a research note on Thursday, July 2nd. Wells Fargo & Company cut shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 6th. Finally, Guggenheim raised shares of Universal Music Group from a “neutral” rating to a “buy” rating in a report on Tuesday, March 31st.

Universal Music Group Stock Performance

Shares of UMGNF stock opened at $20.59 on Wednesday. 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 is $21.79 and its two-hundred day moving average is $22.44.

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.