Universal Music Group (OTCMKTS:UMGNF) Shares Down 1.1% – Here’s What Happened

Universal Music Group (OTCMKTS:UMGNF) dropped 1.1% on Monday . The company traded as low as $21.45 and last traded at $21.45. Approximately 144,512 shares were traded during mid-day trading, an increase of 216% from the average daily volume of 45,796 shares. The stock had previously closed at $21.69.

Analyst Ratings Changes

UMGNF has been the subject of several analyst reports. Guggenheim upgraded Universal Music Group from a “neutral” rating to a “buy” rating in a report on Tuesday, March 31st. Zacks Research raised Universal Music Group to a “hold” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company downgraded Universal Music Group from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Universal Music Group Trading Up 1.1%

The business has a fifty day moving average of $21.92 and a 200-day moving average of $22.55.

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.