Macquarie Group (OTCMKTS:MQBKY) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Macquarie Group Limited (OTCMKTS:MQBKY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $161.79 and traded as high as $190.30. Macquarie Group shares last traded at $187.51, with a volume of 5,793 shares.

Analyst Upgrades and Downgrades

MQBKY has been the topic of several research analyst reports. UBS Group cut Macquarie Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Zacks Research cut Macquarie Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group reiterated a “sell” rating on shares of Macquarie Group in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Macquarie Group Stock Performance

The stock has a 50 day moving average of $175.33 and a 200-day moving average of $161.79.

Macquarie Group Company Profile

Macquarie Group is a diversified financial services and asset management company headquartered in Sydney, Australia. Founded in 1969 as Hill Samuel Australia, it was granted its banking licence in 1985 and adopted the Macquarie name shortly thereafter. Over the decades, the firm has grown from a domestic brokerage operation into a global institution, offering a wide range of services across banking, advisory, investment and funds management.

The company operates through four core business segments: Macquarie Asset Management, Banking and Financial Services, Commodities and Global Markets, and Macquarie Capital.