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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03/08/2023 17:10

Pinnacle Investment Management (PNI) $10.05

PNI -3.83%: the investor and fund support company announced their FY23 results after market yesterday, coming in with a small beat to estimates. Profit was flat compared to FY22 at $76.5m, ~5% above the consensus of $72.8m while the dividend was broadly in line.

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02/02/2023 16:42

Pinnacle Investment Management (PNI) $9.39

PNI -2.69%: announced their half-year results after market yesterday, trading to 4-week lows during the session on some weak numbers.

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01/02/2023 13:40

Emerging Companies Portfolio – Amendment

As discussed in recent reports, we have shifted to neutral on Pinnacle (PNI) after a strong rally.

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25/01/2023 09:11

Pinnacle Investment Group (PNI) $10.64

The investment management services company has been the best performer in the portfolio in 2023, currently up more than 20% in the first 3 weeks of the year and we are sitting on a ~15% profit in the Emerging Companies portfolio. While tech does play a role, it certainly isn’t the main driver of performance, though shares do seem to track the sector...

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31/08/2022 09:32

Emerging Companies Portfolio

The portfolio was up +1.80% in the week, strongly outperforming the S&P/ASX Small Ords index which fell.  Cash in the portfolio is sitting at around 9%. Strength in  Paladin (PDN) +20% and Lovisa Holdings (LOV) +18% drove the performance, more than offsetting weakness in Aussie Broadband (ABB) -15% and EML payments (EML) -9%. The portfolio was also supported by dividends from Bapcor (BAP) and Pinnacle Investment (PNI).

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03/08/2022 17:07

Pinnacle Investment Management (PNI) $11.30

PNI +12.21%:Released FY22 earnings today were a whisker below consensus expectations at the profit line, printing $76.4m versus $77.4m expected while the 17.5c dividend was a touch above. They talked to a strong 1H in terms of flows and a weak 2H which is understandable, with Funds Under Management (FUM) down overall for the year, the first time since...

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27/07/2022 09:35

Emerging Companies Portfolio

The portfolio was up +3.38% in the week, outpacing the performance of the small ords index.  Cash in the portfolio is sitting at around 4%. Strong moves by PointsBet (PBH), Adore Beauty (ABY) & Pinnacle (PNI) all rallying over 13%. These gains were partially offset by ~10% falls in both EML Payments (EML) and Nitro Software (NTO) after poor updates. The small...

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