Kepler Capital Markets Downgrades Universal Music Group (OTCMKTS:UMGNF) to Hold

Universal Music Group (OTCMKTS:UMGNF) was downgraded by analysts at Kepler Capital Markets from a “buy” rating to a “hold” rating in a research note issued on Thursday, Marketbeat Ratings reports.

UMGNF has been the subject of several other research reports. Wolfe Research initiated coverage on Universal Music Group in a report on Friday, July 12th. They issued a “peer perform” rating for the company. HSBC raised Universal Music Group from a “reduce” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Barclays lowered shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Universal Music Group has a consensus rating of “Hold” and a consensus price target of $26.18.

Universal Music Group Stock Performance

UMGNF stock opened at $23.38 on Thursday. The firm’s 50-day moving average price is $30.25 and its two-hundred day moving average price is $29.87. Universal Music Group has a 12-month low of $22.60 and a 12-month high of $32.24.

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.