13/03/2025 09:53

Pinnacle Investment Management (PNI) $17.79

PNI is a fund management group that helps independent boutique managers grow with revenue generated through fees from the management of funds and by investing in their boutique partners. PNI has evolved its business from being very focused on equity managers with earnings being vulnerable to market swings.

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12/03/2025 09:43

Emerging Companies Portfolio – Amendment

We are adding a new position to the Emerging Companies Portfolio.

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12/03/2025 09:26

Pinnacle Investment Management (PNI) $18.00

Market turmoil creates opportunity, and we’re seeing some significant moves in previously hot stocks, with PNI being a clear example. The re-rate lower has been aggressive, with the share price down more than 34% in just six chaotic weeks. This has restored value in PNI and we now add the stock to our Emerging Companies Hitlist.

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11/02/2025 09:32

Pinnacle Investment Mgt Group (PNI) $24.62

After popping to an all-time high last week, PNI has subsequently drifted lower, taking it 9.2% below last Wednesday's high. PNI announced strong 1H results last week with earnings up ~150% on the period, driven by a strong uplift in performance fees from their affiliates, a level of growth that we would not extrapolate.

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05/02/2025 17:15

Pinnacle Investment Management (PNI) $26.04

PNI +3.76%: Hit an all-time-high of $27.11 today after announcing strong 1H results after-market yesterday which led analysts at UBS, Barrenjoy and Macquarie to increase their price target on the stock to $25.20, $26.90 and $27.37 respectively based on: 

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21/11/2024 16:59

Pinnacle Investment Management (PNI) $22.12

PNI hit new all-time highs today as it resumed trading following a capital raise and acquisition of stakes in two US based managers. A positive reaction on the prospect of the successful Australian ‘fund-of-funds’ strategy further expanding globally

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29/10/2024 09:34

Pinnacle Investment Group (PNI) $19.48

Multi-affiliate investment group PNI has been a stellar performer since late 2023, with the share price more than doubling. The market embraced its recent AGM, reinforcing a strong FY24, during which it reported a 7.6% lift in revenue and an 18% jump in profit, with some brokers upgrading their price targets above $21.

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06/08/2024 09:24

Pinnacle Investment Group (PNI) $15.89

PNI is still up over 50% so far in 2024; it’s already corrected 8.8% in the last fortnight, but after running so hard, a deeper correction wouldn’t surprise.

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09/05/2024 09:05

Pinnacle Investment Mgt. Group (PNI) $12.61

Pinnacle Investment Management (PNI) is a multi-affiliate investment group specialising in developing investment boutiques. PNI provides distribution services and business support services to its affiliates, many of whom it has a minority equity stake in, which delivers earnings diversification across managers and asset classes

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03/05/2024 09:33

Pinnacle Investments Group (PNI) $11.51

PNI is up 14.2% so far this year as the investor and fund support company continues to perform strongly. The company actually delivered a 7% 1H profit miss in February, but the stocks still rallied strongly on upbeat revenue momentum exiting 2023. We are optimistic that underlying operating leverage will evolve in the 2H, but this looks likely to be dependent on some affiliates slowing down their spending. Market expectations have increased around FUM flows, fee margin, and performance fee outlook, but again, this may be offset to a degree by higher affiliate costs. Signs moving forward that costs are being managed is likely to see a strong move on the upside, but the risk/reward isn't exciting at current levels.

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