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Pinnacle Investment Management Group Limited ( (AU:PNI) ) has issued an update.
Pinnacle Investment Management Group Limited announced the sale of approximately 1.73% of its issued capital, amounting to 3.932 million shares, by entities associated with its Managing Director, Ian Macoun. Despite the sale, Mr. Macoun retains a significant stake in the company, holding 6.3% of the issued capital. The transaction allows him to reinvest in funds managed by Metrics, which offer attractive yields. The company’s Chair, Alan Watson, emphasized that Mr. Macoun’s retirement is not imminent, and discussions about his succession are ongoing, ensuring the company’s continued growth and success.
The most recent analyst rating on (AU:PNI) stock is a Hold with a A$14.50 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.
More about Pinnacle Investment Management Group Limited
Pinnacle Investment Management Group Limited operates in the financial services industry, focusing on investment management. The company provides a range of investment solutions and services, catering to various market segments.
Average Trading Volume: 948,705
Technical Sentiment Signal: Buy
Current Market Cap: A$4.16B
See more insights into PNI stock on TipRanks’ Stock Analysis page.