Magellan director Andrew Formica lifts stake via share purchase plan

Magellan Financial Group Ltd ( (AU:MFG) ) just unveiled an announcement.

Magellan Financial Group director Andrew Formica has increased his stake in the company through a purchase of 3,550 ordinary shares under a share purchase plan. The on-market transaction, executed at $8.45 per share on 1 April 2026, lifts his direct and indirect holding to 55,330 Magellan shares, alongside substantial units in Magellan’s listed active ETFs.

The change in Formica’s interests, disclosed in an Appendix 3Y to the ASX, signals a modest vote of confidence in the fund manager’s outlook from within its boardroom. No shares were sold, no related contracts were affected, and the trade did not occur during a closed period, limiting governance or compliance implications for investors monitoring insider activity.

The most recent analyst rating on (AU:MFG) stock is a Hold with a A$9.90 price target. To see the full list of analyst forecasts on Magellan Financial Group Ltd stock, see the AU:MFG Stock Forecast page.

More about Magellan Financial Group Ltd

Magellan Financial Group Ltd is an Australian asset management company focused on global equities and listed investment strategies for institutional and retail investors. Its products include ordinary shares in the listed parent company and a range of active exchange-traded funds such as the Magellan Global Opportunities Fund and Airlie-branded Australian equity funds.

Average Trading Volume: 1,048,227

Technical Sentiment Signal: Hold

Current Market Cap: A$1.84B

See more data about MFG stock on TipRanks’ Stock Analysis page.