Universal Music Group (OTCMKTS:UMGNF) Cut to Equal Weight at Wells Fargo & Company

Universal Music Group (OTCMKTS:UMGNF) was downgraded by equities researchers at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday.

Other analysts have also issued reports about the stock. Moffett Nathanson assumed coverage on shares of Universal Music Group in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Guggenheim raised shares of Universal Music Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, Morgan Stanley restated an “overweight” rating on shares of Universal Music Group in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Universal Music Group Price Performance

UMGNF opened at $19.88 on Monday. The stock’s 50-day moving average price is $21.73 and its 200 day moving average price is $24.71. Universal Music Group has a 12-month low of $17.36 and a 12-month high of $33.77.

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.