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

Universal Music Group (OTCMKTS:UMGNF) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company.

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

Universal Music Group Stock Performance

UMGNF stock opened at $20.59 on Wednesday. Universal Music Group has a 52-week low of $17.36 and a 52-week high of $33.77. The company’s 50 day simple moving average is $21.79 and its 200-day simple moving average is $22.47.

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.