Universal Music Group (OTCMKTS:UMGNF) Downgraded by Citigroup

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

UMGNF has been the topic of a number of other reports. Wolfe Research started coverage on shares of Universal Music Group in a research note on Friday, July 12th. They issued a peer perform rating on the stock. Kepler Capital Markets cut shares of Universal Music Group from a buy rating to a hold rating in a research report on Thursday. HSBC raised shares of Universal Music Group from a reduce rating to a hold rating in a research report on Monday, May 20th. Finally, Barclays cut shares of Universal Music Group from an overweight rating to an equal weight rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $26.50.

Universal Music Group Stock Down 2.6 %

Shares of UMGNF stock opened at $23.38 on Thursday. Universal Music Group has a 52-week low of $22.60 and a 52-week high of $32.24. The firm’s 50 day moving average price is $30.25 and its two-hundred day moving average price is $29.89.

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.