Macquarie Group Limited (OTCMKTS:MQBKY) Sees Significant Decline in Short Interest

Macquarie Group Limited (OTCMKTS:MQBKY) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 8,742 shares, a drop of 36.2% from the June 30th total of 13,700 shares. Based on an average daily volume of 22,903 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

MQBKY has been the subject of several research reports. Zacks Research downgraded shares of Macquarie Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. UBS Group downgraded Macquarie Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group reaffirmed a “sell” rating on shares of Macquarie Group in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Macquarie Group currently has an average rating of “Reduce”.

Macquarie Group Price Performance

Shares of OTCMKTS:MQBKY traded down $0.06 during trading on Thursday, hitting $176.34. 5,308 shares of the stock were exchanged, compared to its average volume of 18,233. The company has a fifty day moving average price of $173.82 and a two-hundred day moving average price of $159.95. Macquarie Group has a 12-month low of $122.37 and a 12-month high of $181.55.

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.