Universal Music Group (OTCMKTS:UMGNF) Rating Lowered to Equal Weight at Barclays

Universal Music Group (OTCMKTS:UMGNF) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Thursday, Marketbeat reports.

Other equities analysts also recently issued reports about the stock. Wolfe Research initiated coverage on shares of Universal Music Group in a report on Friday, July 12th. They set a “peer perform” rating on the stock. HSBC upgraded Universal Music Group from a “reduce” rating to a “hold” rating in a research note on Monday, May 20th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. 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

Universal Music Group stock opened at $23.38 on Thursday. Universal Music Group has a 52-week low of $22.60 and a 52-week high of $32.24. The stock’s 50 day moving average price is $30.25 and its two-hundred day moving average price is $29.87.

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.