Universal Music Group (OTCMKTS:UMGNF) Downgraded by Barclays to Equal Weight

Barclays cut shares of Universal Music Group (OTCMKTS:UMGNF) from an overweight rating to an equal weight rating in a report published on Thursday morning, Marketbeat Ratings reports.

A number of other analysts have also commented on the company. HSBC upgraded Universal Music Group from a reduce rating to a hold rating in a report on Monday, May 20th. Wolfe Research assumed coverage on shares of Universal Music Group in a research note on Friday, July 12th. They set a peer perform rating for the company. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Universal Music Group has a consensus rating of Hold and a consensus target price of $26.18.

Universal Music Group Stock Performance

Shares of OTCMKTS:UMGNF 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 company’s fifty day simple moving average is $30.41 and its 200 day simple moving average is $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.