Universal Music Group (OTCMKTS:UMGNF) Earns Buy Rating from Analysts at Citigroup

Citigroup started coverage on shares of Universal Music Group (OTCMKTS:UMGNF) in a report issued on Monday. The firm set a “buy” rating on the stock.

A number of other research firms have also recently weighed in on UMGNF. HSBC cut Universal Music Group from a “hold” rating to a “reduce” rating in a research report on Thursday. The Goldman Sachs Group started coverage on Universal Music Group in a research report on Monday, July 20th. They set a “hold” rating on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Universal Music Group in a research note on Tuesday, August 4th. Finally, Zacks Research downgraded Universal Music Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Universal Music Group Price Performance

OTCMKTS UMGNF traded up $0.53 on Monday, hitting $17.36. The stock had a trading volume of 1,400 shares, compared to its average volume of 43,295. The business’s fifty day moving average price is $20.24 and its 200 day moving average price is $21.53. Universal Music Group has a 52-week low of $16.27 and a 52-week high of $30.04.

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.