They were down on an analyst's opinion. Analyst opinions are inversely correlated with stock returns I believe, over time. Wish I shorted it for the day - oh well.
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 0 Morgan Stanley 04/07/2018 5 Downgrade to Underweight from Equal-weight $27.00 20.37% 1
- COMMENTARYMorgan Stanley downgrades Magellan to Underweight from Equal-weight, contrary to consensus, on a persistent slowdown in retail funds flows. Inflows have slowed for the past months and risk turning negative, the broker suggests.Magellan also charges above-peer fees, suggesting these may come under pressure. Given the fund manager is maturing as a business, there are fewer growth options than previously, the broker notes. Target unchanged at $27. Industry view: In-Line.
Ann: Funds Under Management - May 2018, page-30
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Last
$8.86 |
Change
-0.140(1.56%) |
Mkt cap ! $1.597B | |||
| Open | High | Low | Value | Volume |
| $8.90 | $8.92 | $8.77 | $4.127M | 466.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1818 | $8.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.88 | 2746 | 2 |
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| Last trade - 16.10pm 09/09/2024 (20 minute delay) ? |
| MFG (ASX) Chart |