2332 GMT [Dow Jones] Macquarie Group (MQG.AU) short trade is "over" after it
hit A$15.00 price target, says Southern Cross Equities director Charlie Aitken. "I
realize the market is trying to force MQG into a discounted equity issue (so everyone can
cover shorts and underweights), but if my feedback from investors who have met with CEO
Nick Moore is accurate, I highly doubt MQG will succumb to the market pressure,"
says Aitken. Says pressure on Macquarie model is more than reflected in the share price,
based on 5x A$3.00 EPS. Adds, aggressive cost cutting is not reflected in MQG share
price, could see bottom in return on equity. Says his judgment is that genuine buyers
have emerged in MQG satellites Macquarie Airports (MAP.AU) and Macquarie Infrastructure
Group (MIG.AU) and that short covering in those stocks will boost MQG. MQG up 0.8% at
A$18.07. (DWR)
c aitken mqg short sell over
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Last
$204.69 |
Change
0.880(0.43%) |
Mkt cap ! $78.38B | |||
| Open | High | Low | Value | Volume |
| $205.91 | $207.57 | $204.01 | $167.1M | 819.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $204.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $204.69 | 8739 | 4 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MQG (ASX) Chart |