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

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UMGNF. Zacks Research upgraded shares of Universal Music Group to a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company cut shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 6th. Finally, Guggenheim raised shares of Universal Music Group from a “neutral” rating to a “buy” rating in a report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Universal Music Group Price Performance

The stock has a 50-day moving average price of $21.93 and a 200 day moving average price of $22.59.

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.