Macquarie Group (OTCMKTS:MQBKY) Downgraded by UBS Group to Hold

UBS Group downgraded shares of Macquarie Group (OTCMKTS:MQBKY) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Zacks Research cut Macquarie Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. The Goldman Sachs Group reissued a “sell” rating on shares of Macquarie Group in a research report on Tuesday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Macquarie Group Stock Up 0.8%

Shares of Macquarie Group stock opened at $165.97 on Wednesday. The stock has a 50 day moving average price of $149.25 and a two-hundred day moving average price of $142.94. Macquarie Group has a 12-month low of $116.92 and a 12-month high of $178.01.

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.