Universal Music Group (OTCMKTS:UMGNF) Trading 0.2% Higher – Here’s What Happened

Universal Music Group (OTCMKTS:UMGNF)’s share price rose 0.2% during trading on Monday . The stock traded as high as $24.08 and last traded at $23.95. Approximately 9,865 shares changed hands during trading, a decline of 43% from the average daily volume of 17,319 shares. The stock had previously closed at $23.90.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UMGNF. BNP Paribas raised shares of Universal Music Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 29th. Wolfe Research raised Universal Music Group from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Universal Music Group Stock Performance

The company’s 50 day moving average price is $25.42 and its 200 day moving average price is $27.29.

About Universal Music Group

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.