Universal Music Group (OTCMKTS:UMGNF) Short Interest Update

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UMGNF shares. BNP Paribas upgraded shares of Universal Music Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 29th. Wolfe Research raised shares of Universal Music Group from a “peer perform” rating to an “outperform” rating in a research note 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, the company presently has an average rating of “Hold”.

Universal Music Group Stock Performance

OTCMKTS:UMGNF opened at $25.55 on Friday. The stock’s 50-day moving average is $24.99 and its 200-day moving average is $26.69. Universal Music Group has a 1-year low of $22.53 and a 1-year high of $32.24.

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.