Universal Music Group (OTCMKTS:UMGNF) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Universal Music Group (OTCMKTS:UMGNF) have earned a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company.

Several brokerages have recently weighed in on UMGNF. Citigroup initiated coverage on shares of Universal Music Group in a research report on Monday, August 17th. They set a “buy” rating for the company. The Goldman Sachs Group started coverage on shares of Universal Music Group in a research note on Monday, July 20th. They set a “hold” rating on the stock. Morgan Stanley reissued an “overweight” rating on shares of Universal Music Group in a research report on Tuesday, August 4th. HSBC downgraded shares of Universal Music Group from a “hold” rating to a “reduce” rating in a research note on Thursday, August 13th. Finally, Zacks Research upgraded Universal Music Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 29th.

Universal Music Group Price Performance

Shares of UMGNF opened at $15.85 on Monday. Universal Music Group has a 52-week low of $15.21 and a 52-week high of $29.55. The stock has a 50 day moving average price of $17.30 and a 200 day moving average price of $20.06.

Universal Music Group Company Profile

Universal Music Group N.V. (OTCMKTS:UMGNF) is a global music and entertainment company headquartered in Hilversum, the Netherlands. Its businesses span recorded music, music publishing, artist services, merchandising, brand partnerships and audiovisual content.

Through its recorded-music operations, Universal Music Group signs and develops artists, releases music and manages catalogs across a broad range of genres. Its portfolio includes labels such as Capitol Music Group, Republic Records, Interscope Geffen A&M, Island Records, Def Jam Recordings, Motown Records and Universal Music Latin Entertainment.