Universal Music Group (OTCMKTS:UMGNF) Downgraded by Guggenheim

Guggenheim downgraded shares of Universal Music Group (OTCMKTS:UMGNF) from a buy rating to a neutral rating in a report released on Thursday, Marketbeat Ratings reports.

UMGNF has been the subject of a number of other reports. Barclays cut Universal Music Group from an overweight rating to an equal weight rating in a report on Thursday. Wolfe Research started coverage on Universal Music Group in a report on Friday, July 12th. They set a peer perform rating for the company. Kepler Capital Markets cut Universal Music Group from a buy rating to a hold rating in a report on Thursday. HSBC upgraded Universal Music Group from a reduce rating to a hold rating in a report on Monday, May 20th. Finally, Citigroup cut Universal Music Group from a buy rating to a neutral rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $26.50.

Universal Music Group Stock Performance

Shares of OTCMKTS:UMGNF opened at $23.38 on Thursday. The business has a fifty day moving average of $30.25 and a two-hundred day moving average of $29.88. Universal Music Group has a 52-week low of $22.60 and a 52-week high of $32.24.

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.