Universal Music Group (OTCMKTS:UMGNF) Lowered to “Neutral” at Guggenheim

Guggenheim downgraded shares of Universal Music Group (OTCMKTS:UMGNF) from a buy rating to a neutral rating in a research note released on Thursday morning, MarketBeat reports.

Several other analysts also recently issued reports on the company. Citigroup downgraded Universal Music Group from a buy rating to a neutral rating in a research note on Thursday. Kepler Capital Markets cut Universal Music Group from a buy rating to a hold rating in a research note on Thursday. Barclays downgraded Universal Music Group from an overweight rating to an equal weight rating in a research report on Thursday. Wolfe Research started coverage on shares of Universal Music Group in a research report on Friday, July 12th. They issued a peer perform rating on the stock. Finally, HSBC upgraded shares of Universal Music Group from a reduce rating to a hold rating in a report on Monday, May 20th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Universal Music Group presently has a consensus rating of Hold and an average target price of $26.18.

Universal Music Group Price Performance

Shares of UMGNF stock opened at $24.00 on Thursday. Universal Music Group has a 12-month low of $23.65 and a 12-month high of $32.24. The firm has a fifty day moving average of $30.41 and a 200-day moving average of $29.90.

Universal Music Group Company Profile

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.