Universal Music Group (OTCMKTS:UMGNF) Trading Down 0.9% – What’s Next?

Universal Music Group (OTCMKTS:UMGNF) was down 0.9% during trading on Monday . The company traded as low as $24.05 and last traded at $24.3050. Approximately 13,308 shares were traded during trading, an increase of 28% from the average daily volume of 10,358 shares. The stock had previously closed at $24.5150.

Analysts Set New Price Targets

UMGNF has been the topic of a number of recent research reports. Moffett Nathanson initiated coverage on shares of Universal Music Group in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Universal Music Group in a report on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Universal Music Group Stock Down 0.9%

The company’s 50 day moving average price is $25.44 and its two-hundred day moving average price is $27.20.

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.