The Magellan (ASX:MFG) share price just hit another 52-week low, down 17% in a month

Let's look into what's weighing on the Magellan share price.

| More on:
share price plummeting down

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Magellan Financial Group Ltd (ASX: MFG) share price is struggling again today.

So much so, that it hit a new 52-week low of $37.31 in intraday trade.

At the time of writing, the Magellan share price is $37.63, 2.71% lower than its previous closing price. Today's fall follows the fund manager's stock's 2% plunge yesterday.

In comparison, the broader market has seemingly recovered from its disastrous start to the week.

After falling 2.1% yesterday, the S&P/ASX 200 Index (ASX: XJO) spent much of this morning in the red before pulling up this afternoon. Right now, it is 0.15% higher.

Similarly, the All Ordinaries Index (ASX: XAO) has recovered to trade 0.15% higher than its previous close.

So, what's been weighing so heavily on the Magellan share price today? Let's take a look.

What's dragging the Magellan share price down?

Magellan's stock has plummeted again today despite no news having been released by the fund manager.

However, as The Motley Fool Australia reported yesterday, the fund has been underperforming as China has cracked down on some of its major holdings.

Additionally, Magellan has retained its high fees amid its struggles and a number of analysts have downgraded the fund's stock in recent months.

Market watchers might have had hope Magellan's funds under management update for the month of August, released just over a fortnight ago, could have seen its stock recovering once more.

Magellan's funds under management increased 0.79% over the month of August, reaching $117.95 billion worth.

However, the market seemingly wanted more from Magellan, evidenced by its share price's 0.6% dip on the day of the announcement.

Though, this last month's poor performance isn't out of trend for Magellan. The Magellan share price has fallen 29% since the start of 2021, despite what looks to be a slight recovery over May and June.

In fact, it has been falling relatively steadily since mid-November 2020, a month after it hit its 52-week high of $64.44.

Should you invest $1,000 in The Star Entertainment Group Limited right now?

Before you buy The Star Entertainment Group Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and The Star Entertainment Group Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Financial Shares

Nervous customer in discussions at a bank.
Financial Shares

Guess which ASX 200 bank stock just crashed 19% on shock news

Investors have been hitting the sell button in a panic this afternoon.

Read more »

Two CEOs shaking hands on a deal.
Financial Shares

This ASX 300 stock is jumping on surprise merger news

This stock could be having a very big makeover.

Read more »

Man smiling at a laptop because of a rising share price.
Financial Shares

How this quality ASX 200 stock is 'ideally placed' for years of growth

A leading expert expects more outperformance from this high-flying ASX 200 stock.

Read more »

Cheerful boyfriend showing mobile phone to girlfriend in dining room. They are spending leisure time together at home and planning their financial future.
Financial Shares

Looking for financial stocks outside the big 4 banks?

With the financial sector down to start the year, could these stocks provide upside?

Read more »

A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
Financial Shares

This leading broker just upgraded AMP shares to 'outperform'. Here's why

This top broker just turned bullish on AMP shares. But why?

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Financial Shares

Up 53% in a year, why is this ASX 200 financial stock leaping higher again today?

Investors are sending the ASX 200 financial stock soaring on Wednesday. Let’s see why.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Financial Shares

Why this top broker just upgraded AMP shares

Let's see which broker has become bullish on the financial services company.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Financial Shares

What's happening with the AMP share price on Thursday?

A lot of AMP shares are changing hands on Thursday. But at what price?

Read more »