Universal Music Group (OTCMKTS:UMGNF) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Universal Music Group (OTCMKTS:UMGNF) from a hold rating to a strong sell rating in a report published on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on UMGNF. The Goldman Sachs Group initiated coverage on shares of Universal Music Group in a research note on Monday, July 20th. They issued a “hold” rating on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Universal Music Group in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Universal Music Group currently has an average rating of “Hold”.

Universal Music Group Trading Up 1.6%

OTCMKTS UMGNF opened at $17.32 on Wednesday. Universal Music Group has a 12 month low of $16.27 and a 12 month high of $30.04. The company’s fifty day moving average price is $20.74 and its two-hundred day moving average price is $21.84.

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.