Universal Music Group (OTCMKTS:UMGNF – Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 5,283,578 shares, a decrease of 43.8% from the May 14th total of 9,404,358 shares. Based on an average daily volume of 37,361 shares, the short-interest ratio is currently 141.4 days.
Universal Music Group Price Performance
UMGNF opened at $20.66 on Monday. Universal Music Group has a 1-year low of $17.36 and a 1-year high of $33.77. The business has a 50 day moving average of $22.54 and a 200-day moving average of $23.22.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on UMGNF. Wells Fargo & Company cut shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Guggenheim raised Universal Music Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 31st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.
Universal Music Group Company Profile
Universal Music Group (OTCMKTS:UMGNF) is one of the world’s leading music entertainment companies, engaged in recorded music, music publishing, merchandising and brand partnerships. The company’s recorded music division encompasses a roster of major labels—such as Interscope Geffen A&M, Capitol Music Group, Republic Records, Island Records and Decca—and works with a diverse array of artists across genres ranging from pop and hip-hop to classical and jazz. Its music publishing arm, Universal Music Publishing Group, administers and exploits compositions by both established songwriters and emerging talent, providing licensing services for film, television, advertising and digital platforms.
Headquartered in Santa Monica, California, Universal Music Group operates on a truly global scale with regional offices in North America, Europe, Latin America, Asia-Pacific and Africa.
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