Universal Music Group (OTCMKTS:UMGNF) Trading Down 0.9% – Here’s Why

Universal Music Group (OTCMKTS:UMGNF) traded down 0.9% on Monday . The stock traded as low as $24.05 and last traded at $24.3050. 13,308 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 10,358 shares. The stock had previously closed at $24.5150.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UMGNF. Moffett Nathanson initiated coverage on Universal Music Group in a report on Tuesday, January 27th. They set a “buy” rating for the company. Morgan Stanley reissued an “overweight” rating on shares of Universal Music Group in a research note on Friday, January 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Universal Music Group Trading Down 0.9%

The firm has a fifty day simple moving average of $25.44 and a 200 day simple moving average of $27.20.

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.