Universal Music Group (OTCMKTS:UMGNF) Stock Price Down 1.6% – Time to Sell?

Shares of Universal Music Group (OTCMKTS:UMGNF) fell 1.6% during mid-day trading on Friday . The stock traded as low as $23.4580 and last traded at $23.61. 12,539 shares changed hands during trading, a decline of 74% from the average session volume of 47,916 shares. The stock had previously closed at $23.9950.

Analyst Ratings Changes

A number of research firms have recently issued reports on UMGNF. Guggenheim upgraded shares of Universal Music Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 31st. Moffett Nathanson started coverage on Universal Music Group in a research note on Tuesday, January 27th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company cut Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Universal Music Group Stock Performance

The firm has a 50 day moving average price of $21.78 and a 200-day moving average price of $23.67.

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.