Universal Music Group (OTCMKTS:UMGNF) Downgraded to Neutral at Citigroup

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

Several other research analysts also recently issued reports on UMGNF. Kepler Capital Markets downgraded Universal Music Group from a buy rating to a hold rating in a research note on Thursday. HSBC raised shares of Universal Music Group from a reduce rating to a hold rating in a report on Monday, May 20th. Barclays downgraded Universal Music Group from an overweight rating to an equal weight rating in a research report on Thursday. Finally, Wolfe Research began coverage on Universal Music Group in a report on Friday, July 12th. They set a peer perform rating on the stock. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $26.18.

Universal Music Group Stock Down 20.3 %

Shares of UMGNF stock opened at $24.00 on Thursday. Universal Music Group has a 1 year low of $23.65 and a 1 year high of $32.24. The stock has a fifty day moving average price of $30.41 and a 200 day moving average price of $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.