Funds management giant Magellan is worth twice what its share price indicates, according to Morningstar, as a new chief executive, staff retention efforts and slowing outflows improve the outlook for the hard-hit firm.
Morningstar has placed a fair value estimate on the company’s share price of $31.30, more than double the $15.23 level at which the shares closed on Monday, and pointed to encouraging signs that the business has entered into a calmer phase after months of turbulence.
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From today's AFR
Magellan buoyed by ‘early signs of stability’
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Last
$8.74 |
Change
0.060(0.69%) |
Mkt cap ! $1.579B | |||
| Open | High | Low | Value | Volume |
| $8.73 | $8.78 | $8.66 | $3.285M | 376.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2317 | $8.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.75 | 20 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$8.77 |
Change
0.060 ( 1.17 %) |
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| Open | High | Low | Volume | ||
| $8.74 | $8.78 | $8.66 | 94778 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| MFG (ASX) Chart |