Investment company PNI has corrected almost 20% in recent weeks as it appears to magnify any index moves i.e. its proving to be a high beta stock. As a business PNI aims to make investments in fund managers and through synergies and experience help them grow which be definition adds value to their investments. From our experience at MM I can see the value here as they provide some expensive services to relatively small businesses such as insurance, compliance and accountancy services – perhaps they will knock on our door one day!
The company delivered some strong numbers for FY21 with its net profit after tax (NPAT) increasing 108% to $67m.
MM likes PNI into weakness around $14
Add To Hit List
