Universal Music Group (OTCMKTS:UMGNF) Upgraded to Buy at Guggenheim

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

Other equities research analysts have also recently issued reports about the stock. Moffett Nathanson initiated coverage on shares of Universal Music Group in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Morgan Stanley reissued an “overweight” rating on shares of Universal Music Group in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Universal Music Group Trading Up 6.2%

Shares of OTCMKTS:UMGNF opened at $19.71 on Tuesday. The firm has a fifty day moving average price of $22.02 and a 200 day moving average price of $24.91. Universal Music Group has a 1-year low of $17.36 and a 1-year high of $33.77.

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.