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
Funds management giant Magellan is worth twice what its share...
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Last
$9.31 |
Change
0.210(2.31%) |
Mkt cap ! $1.682B | |||
| Open | High | Low | Value | Volume |
| $9.31 | $9.41 | $9.23 | $4.492M | 481.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1861 | $9.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.33 | 741 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| MFG (ASX) Chart |