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

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

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group reissued a “sell” rating on shares of Macquarie Group in a research note on Tuesday, April 21st. UBS Group cut Macquarie Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Macquarie Group Stock Down 0.7%

Shares of OTCMKTS:MQBKY opened at $174.24 on Tuesday. The business has a 50-day moving average of $171.87 and a two-hundred day moving average of $155.62. Macquarie Group has a fifty-two week low of $122.37 and a fifty-two week high of $179.35.

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.