Universal Music Group (OTCMKTS:UMGNF) Shares Down 1.7% – What’s Next?

Universal Music Group (OTCMKTS:UMGNF) shares were down 1.7% during trading on Tuesday . The company traded as low as $27.43 and last traded at $27.78. Approximately 4,039 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 12,675 shares. The stock had previously closed at $28.26.

Analysts Set New Price Targets

A number of research analysts recently commented on UMGNF shares. UBS Group downgraded Universal Music Group from a “buy” rating to a “neutral” rating in a report on Wednesday, June 25th. Citigroup restated a “neutral” rating on shares of Universal Music Group in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Universal Music Group Trading Down 1.7%

The company has a 50 day simple moving average of $30.22 and a 200-day simple moving average of $29.48.

Universal Music Group Company Profile

Universal Music Group N.V. operates as a music company worldwide. It operates through Recorded Music, Music Publishing, and Merchandising & Other segments. The Recorded Music segment discovers and develops recording artists, as well as markets and promotes their music across various formats and platforms; and engages in the live events, sponsorship, film, and television operations.