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Stock of the day: Macquarie Group
Macquarie Group's impressive market resilience continues, even as it faces challenges related to a US$35 million fine for misreporting short sales.
(AI video summary)
This video was created on 16 March 2026 for IG audiences by ausbiz.
ASX code: MQG
Macquarie Group's resilience amid misreporting fine
Macquarie Group was recently ordered by a court to pay US$35 million for misleading conduct related to misreported short sales between late 2009 and early 2024. The Australian Securities and Investments Commission (ASIC) estimates that the firm misreported between $298 million and $1.5 billion in short sales during that period. However, for a company with a market capitalisation of $71 billion, such a fine is relatively minor.
Despite this, the news did not significantly impact the share price, which has shown resilience and continued to rise.
Technical analysis and trading ranges
Macquarie shares have traded between $190 and $230 over the past year. Currently priced at $195, the stock finds good support with resistance at $230.
Investment outlook
Earnings are subdued, with return on equity (ROE) under 10%. A 3.5% dividend yield, 35% franked, may not appeal strongly to investors given other opportunities. Overall, the banking sector remains less attractive.
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