Macquarie Group (OTCMKTS:MQBKY) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Macquarie Group Limited (OTCMKTS:MQBKY) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $141.08 and traded as low as $135.1150. Macquarie Group shares last traded at $135.4490, with a volume of 8,151 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Macquarie Group to a “strong sell” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Macquarie Group Stock Performance

The business’s 50 day simple moving average is $134.32 and its 200 day simple moving average is $141.08.

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.