Short Interest in Universal Music Group (OTCMKTS:UMGNF) Declines By 22.4%

Universal Music Group (OTCMKTS:UMGNF) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 7,998,800 shares, a drop of 22.4% from the November 15th total of 10,304,600 shares. Based on an average daily trading volume, of 90,300 shares, the days-to-cover ratio is currently 88.6 days.

Wall Street Analyst Weigh In

UMGNF has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of Universal Music Group from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 29th. Wolfe Research raised Universal Music Group from a “peer perform” rating to an “outperform” rating in a report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Universal Music Group currently has a consensus rating of “Hold”.

Universal Music Group Stock Up 3.4 %

OTCMKTS:UMGNF opened at $25.55 on Monday. The stock’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $26.67. Universal Music Group has a 52-week low of $22.53 and a 52-week 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.