Zacks Research Downgrades Macquarie Group (OTCMKTS:MQBKY) to Hold

Macquarie Group (OTCMKTS:MQBKY) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

MQBKY has been the subject of several other research reports. The Goldman Sachs Group raised shares of Macquarie Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. UBS Group raised shares of Macquarie Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Macquarie Group presently has an average rating of “Moderate Buy”.

Macquarie Group Stock Up 2.9%

MQBKY opened at $166.44 on Monday. Macquarie Group has a twelve month low of $107.73 and a twelve month high of $167.07. The company has a 50-day simple moving average of $146.56 and a 200 day simple moving average of $141.65.

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.