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

Shares of Macquarie Group Limited (OTCMKTS:MQBKY) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $154.17 and traded as high as $174.96. Macquarie Group shares last traded at $172.87, with a volume of 12,911 shares trading hands.

Wall Street Analyst Weigh In

MQBKY has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “sell” rating on shares of Macquarie Group in a research report on Tuesday, April 21st. UBS Group downgraded shares of Macquarie Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Zacks Research upgraded Macquarie Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Macquarie Group Stock Performance

The company has a fifty day moving average price of $171.12 and a two-hundred day moving average price of $154.45.

About Macquarie Group

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.