Magellan Director Bolsters Stake in Company

Magellan Financial Group Ltd (AU:MFG) has released an update.

Andrew Formica, a director at Magellan Financial Group Ltd, has increased his stake in the company with an on-market purchase of 1,030 Ordinary Fully Paid Shares at $9.72 each, alongside the grant of 1,030 Matching Awards under the company’s Equity Plan. This transaction, reported in compliance with ASX Listing Rule 3.19A.2, brings Formica’s total holdings to 41,030 shares, with the additional Matching Awards. No changes were reported in the director’s interests in contracts associated with the company.

For further insights into AU:MFG stock, check out TipRanks’ Stock Analysis page.