Universal Music Group (OTCMKTS:UMGNF) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of Universal Music Group (OTCMKTS:UMGNF) in a research note released on Monday morning. The firm issued a buy rating on the stock.

Several other equities analysts also recently weighed in on the company. Zacks Research downgraded Universal Music Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group initiated coverage on shares of Universal Music Group in a report 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. Finally, HSBC downgraded shares of Universal Music Group from a “hold” rating to a “reduce” rating in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Universal Music Group Stock Performance

Shares of UMGNF stock opened at $17.27 on Monday. The firm’s 50 day moving average price is $20.03 and its 200-day moving average price is $21.37. Universal Music Group has a one year low of $16.27 and a one year high of $30.04.

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.