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The latest update is out from NZME ( (NZMEF) ).
Pinnacle Investment Management Group Limited, an Australia-based asset manager, has reduced its substantial shareholding in NZME Limited. Following recent on-market sales totalling just over two million shares in March, Pinnacle and its related entities now hold 15,055,160 NZME ordinary shares, representing about 8% of the company, down from 9.09%.
The transactions signal a moderation of Pinnacle’s exposure to the New Zealand media group, though it remains a significant institutional shareholder. The change in position may slightly increase NZME’s free float and could alter the influence of Pinnacle-affiliated investment managers in shareholder voting dynamics, while leaving NZME’s broader ownership structure diversified among multiple large investors.
More about NZME
NZME Limited is a New Zealand-based media company focused on publishing, radio and digital platforms. It operates news, entertainment and advertising businesses, providing content and marketing solutions to consumers and commercial clients across the country. The company’s shares are listed on the NZX, attracting both domestic and international institutional investors.
For an in-depth examination of NZMEF stock, go to TipRanks’ Overview page.