MFG - Magellan Financial Group

[Smurf1976]

Still going and there's really not a lot to say about it.

Price is up significantly for the month of March, almost 22%, but that really only brings it back to a level similar to the start of 2024. Viewed on a longer term chart it's gone basically nowhere for 18 months now, although with a bit of luck that might perhaps turn out to be a bottom?

 

[Gretsch]

Probably has bottomed.
Yield has more than halved….not surprised.

 

[rnr]

Probably has bottomed.
Yield has more than halved….not surprised.

Hi @Gretsch,

Certainly worth keeping an eye on this share and it would great to hear from an EW chartist (w2 maybe locked in and now looking for a w3).

@Boggo.....have you by chance got any comments?

Cheers, Rob

 

[Gretsch]

Magellan has been performing well lately, seem to have a good mix of quality assets and an ok return, but the company itself has lost a lot of clients and redemptions (myself included) which is reflected in it's reduced yield and could drop even further so for now, I'm taking a wait and see approach.

 

[UMike]

Taking a hit now on No Announcement.
????

 

[divs4ever]

i assume investors are taking cash out of the funds ( in most of them )

and even worse less cash is flowing in at the same time

( i hold several rivals to MFG )

 

[Smurf1976]

Year to date not going well with this one so far, down 4% from the open at the start of January versus the overall market having trended up.

That said on a longer term chart it does look to have stopped trending lower and ultimately that's what lead me to pick it for the competition:

No success there so far however.

I don't own this in reality with real money, have traded it in the past however.

 

[farmerge]

Year to date not going well with this one so far, down 4% from the open at the start of January versus the overall market having trended up.

That said on a longer term chart it does look to have stopped trending lower and ultimately that's what lead me to pick it for the competition:

View attachment 175960

No success there so far however.

I don't own this in reality with real money, have traded it in the past however.

Not too much downward movement left so the only way forward is up I suppose.

 

[Skate]

MFG
Trading MFG is challenging but not impossible.

Skate.

 

[Smurf1976]

Not too much downward movement left so the only way forward is up I suppose.

I'm hoping you're right but the recent price action hasn't been favourable. Plus this stock no longer meets the criteria I used to choose it for the trading competition.

It is what it is though, refer chart:

 

[Smurf1976]

Price has gone broadly sideways for the past month, another low around the same level as the previous two so at some point either that turns out to be a bottom or it breaks.

I'd post an updated chart but for some reason the charts I use aren't working. That isn't MFG's fault however.

No major news from the company during the month so it's all a bit unexciting really.

 

[Smurf1976]

Price has risen substantially over the past month but from a longer term perspective it's still broadly sideways year to date.

On the fundamental side I haven't spotted any recent news from the company of significance, it seems to be steady as it goes:

 

[Dona Ferentes]

bit of a lift today. Closed at $10.44 and within a reach of 12 month high

Magellan will spend $138.5 million to buy a 29.5 per cent stake in Vinva Investment Management, which is regarded by many as Australia’s best quantitative investment firm with $22 billion under management across a range of systematic equity strategies. Vinva’s local and global funds are coming off banner years, but have delivered strong excess returns since Morry Waked established the firm in 2010.

The deal will boost revenue for Magellan in two ways: through any dividends flowing from Vinva, and through an exclusive global distribution agreement between the two firms.

Magellan executive chair Andrew Formica, who has known Waked since the pair went to university together 30 years ago, says Vinva has had great success selling his systematic strategies to superannuation funds, but Magellan will be able to use its distribution team to take their products to a much wider audience in Australia and overseas.

 

[Smurf1976]

Some opportunity for shorter term traders during the past month but not so good for buy and hold investors.

At least the market didn't seem unhappy with the results announcement as it has been with quite a few other stocks that I follow.

 

[frugal.rock]

 

[Smurf1976]

Price trending up over the past ~3 weeks although still broadly sideways for 2024 to date.

Chart commences on the first trading day of 2024.

 

[Smurf1976]

A broad uptrend since the lows on 25 October last year with higher highs and higher lows.

I've exited my own holding of this stock recently, now following it in the context of the trading competition and with a view to possibly buying back in at a lower price.

If the pattern remains intact, it'll be a question of timing as to how that works out for the end of year close. Could get lucky, not necessarily however.....