Universal Music Group (OTCMKTS:UMGNF) Short Interest Update

Universal Music Group (OTCMKTS:UMGNF) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 8,340,300 shares, a growth of 26.4% from the June 30th total of 6,599,500 shares. Based on an average daily trading volume, of 2,800 shares, the short-interest ratio is presently 2,978.7 days.

Universal Music Group Trading Down 2.6 %

UMGNF opened at $23.38 on Friday. The business’s 50-day simple moving average is $30.25 and its 200-day simple moving average is $29.88. Universal Music Group has a one year low of $22.60 and a one year high of $32.24.

Analyst Ratings Changes

UMGNF has been the subject of several recent analyst reports. Wolfe Research began coverage on Universal Music Group in a research note on Friday, July 12th. They set a “peer perform” rating for the company. Citigroup cut shares of Universal Music Group from a “buy” rating to a “neutral” rating in a report on Thursday. Kepler Capital Markets lowered shares of Universal Music Group from a “buy” rating to a “hold” rating in a research note on Thursday. Guggenheim downgraded shares of Universal Music Group from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.50.

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.