Andrix, which of their investment funds are operating in the top quartile?Hi Heedless,
Magellan is a good company despite their recent difficulties. It's not the Magellan business that is surprising or bizarre - it is the price that investors are willing to pay for it, which is the most critical decision as an investor.
Paying a 14x multiple of profit on a business that is likely to experience a further sizeable profit next year is strange - when you consider it in the broader context. For example, GQG trades on a lower PE ratio (approx. 12) despite growing FUM & profitability - does it not strike you as strange that MFG trades on a 14x multiple when FUM is still walking out the door (albeit at a slower rate)?
Magellan is all of the things that you said - it's highly likely they will remain profitable and for the right price I'd be happy to buy in.
It will be very interesting to see if this rally has any legs - I dare say that when the dust settles the share price will be back around the $8 mark by EOY. However I'm known to be wrong at least 50% of the time!
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Last
$9.02 |
Change
-0.200(2.17%) |
Mkt cap ! $1.628B |
Open | High | Low | Value | Volume |
$9.20 | $9.22 | $8.97 | $5.042M | 556.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2043 | $9.01 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$9.07 | 5280 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2043 | 9.010 |
3 | 6574 | 9.000 |
4 | 10152 | 8.980 |
3 | 5354 | 8.970 |
1 | 1717 | 8.960 |
Price($) | Vol. | No. |
---|---|---|
9.070 | 5280 | 3 |
9.090 | 2805 | 1 |
9.100 | 2805 | 1 |
9.120 | 2805 | 1 |
9.180 | 60 | 1 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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