To be fair, I think jdpc35's analysis would best summarise the upward movement. The underlying funds management business is already trading at a price that reflects further declines in profitability - once we consider the value of cash & other investments.
Personally I find the risk to be high that profitability may decline to such an extent that renders a 9x PE a high price to have paid in hindsight. However, I also consider the Magellan investment team to be high quality so they may yet arrest the decline in FUM.
I'm not personally invested in MFG as I consider the risk high but differing views are what makes a market.
To be fair, I think jdpc35's analysis would best summarise the...
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Last
$8.45 |
Change
0.110(1.32%) |
Mkt cap ! $1.527B | |||
| Open | High | Low | Value | Volume |
| $8.51 | $8.60 | $8.37 | $6.591M | 779.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 324 | $8.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.46 | 3717 | 2 |
View Market Depth
| Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
$8.45 |
Change
0.110 ( 1.10 %) |
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| Open | High | Low | Volume | ||
| $8.50 | $8.60 | $8.37 | 238839 | ||
| Last updated 15.59pm 06/06/2024 ? | |||||
| MFG (ASX) Chart |