Universal Music Group (OTCMKTS:UMGNF) Stock Rating Lowered by Citigroup

Citigroup lowered shares of Universal Music Group (OTCMKTS:UMGNF) from a buy rating to a neutral rating in a research report released on Thursday morning, Marketbeat reports.

Several other equities analysts also recently weighed in on the company. Kepler Capital Markets downgraded Universal Music Group from a buy rating to a hold rating in a research report on Thursday. Wolfe Research initiated coverage on Universal Music Group in a research report on Friday, July 12th. They issued a peer perform rating on the stock. HSBC raised Universal Music Group from a reduce rating to a hold rating in a research report on Monday, May 20th. Finally, Barclays downgraded Universal Music Group from an overweight rating to an equal weight rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Universal Music Group currently has an average rating of Hold and a consensus target price of $26.50.

Universal Music Group Stock Down 2.6 %

Shares of UMGNF opened at $23.38 on Thursday. Universal Music Group has a 1 year low of $22.60 and a 1 year high of $32.24. The business’s 50 day simple moving average is $30.25 and its 200-day simple moving average is $29.88.

About Universal Music Group

Universal Music Group N.V. operates as a music company worldwide. It operates through Recorded Music, Music Publishing, and Merchandising & Other segments. The Recorded Music segment discovers and develops recording artists, as well as markets and promotes their music across various formats and platforms; and engages in the live events, sponsorship, film, and television operations.