Pinnacle Investment Management Group Limited (PNI) AI Stock Analysis

• Market Cap: AU$4.18B
• Dividend Yield: 3.39%
• Average Volume (3M): 946.40K
• Price to Earnings (P/E): 28.6
• Beta (1Y): 2.16
• Revenue Growth: 36.76%
• EPS Growth: 70.74%
• Country: AU
• Employees: 118
• Sector: Financial
• Sector Strength: 79
• Industry: Asset Management
• EPS (TTM): 0.37
• Shares Outstanding: 226,799,730
• 10 Day Avg. Volume: 1,683,092
• 30 Day Avg. Volume: 946,402
• PEG Ratio: -10.15
• Price to Book (P/B): 4.59
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 33.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$22.92
• Price Target Upside: 15.99% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6

• Rating: 67 Neutral
• Price Target: AU$21.50 ▲(8.81%Upside)

Pinnacle Investment Management Group Limited shows financial stability with strong cash flow and equity positions but faces challenges in operational efficiency as evidenced by declining revenue and EBIT margin. The stock's technical indicators suggest moderate momentum, while a high P/E ratio raises valuation concerns. Despite these challenges, the company remains fundamentally stable, but improvements are needed for enhanced profitability.

Pinnacle Investment Management Group Limited Business Overview & Revenue Model

Company Description

Pinnacle Investment Management Group Limited (PNI) is an Australia-based investment management company that operates within the financial services sector. It focuses on providing a diverse range of investment strategies across various asset classes, including equities, fixed income, and alternative investments. Pinnacle partners with a network of boutique investment managers, offering them distribution and support services to enhance their reach and operational capabilities.

How the Company Makes Money

Pinnacle Investment Management Group Limited generates revenue primarily through management and performance fees. The company earns management fees based on a percentage of the assets under management (AUM) entrusted to its partner boutique investment managers. Additionally, it may earn performance fees when these managers achieve returns above a predefined benchmark or target. Pinnacle's business model relies on fostering strong relationships with its boutique managers, providing them with distribution, business support, and infrastructure, which in turn allows them to focus on generating superior investment performance. This collaborative approach not only helps in expanding AUM, thereby increasing management fees, but also boosts the potential for earning performance fees. Significant partnerships with these boutique managers are crucial to Pinnacle's revenue model as they directly contribute to the company's earnings.

Pinnacle Investment Management Group Limited Financial Statement Overview

Summary

Pinnacle Investment Management Group Limited demonstrates financial stability with strong cash flow and equity positions. However, the recent decline in revenue and EBIT margin points to potential inefficiencies in operations. The company needs to address these issues to improve profitability and maintain growth trajectory.

Income Statement

The company shows a volatile revenue trend with a decline in the most recent year. Gross profit margin is strong, but there's a significant discrepancy between gross profit and net income. EBIT margin declined due to lower operating efficiency, indicating potential issues in cost management.

Balance Sheet

The balance sheet is strong with a solid equity base and moderate debt levels, resulting in a healthy Debt-to-Equity ratio. Return on Equity is robust, reflecting good profitability relative to shareholder equity.

Cash Flow

Cash flow is stable with positive free cash flow growth. The operating cash flow to net income ratio is healthy, indicating efficient cash conversion from operations. Free cash flow to net income ratio is strong, suggesting strong cash generation relative to net income.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	52.95M	47.56M	54.21M	42.12M	32.42M	21.11M
Gross Profit	9.90M	6.78M	52.65M	39.80M	30.04M	18.62M
EBITDA	-394.00K	8.35M	16.74M	7.23M	3.69M	-2.54M
Net Income	135.83M	90.35M	76.47M	76.36M	67.02M	32.21M
Balance Sheet
Total Assets	1.06B	582.99M	552.64M	536.76M	366.20M	240.59M
Cash, Cash Equivalents and Short-Term Investments	440.38M	184.82M	27.62M	38.27M	96.14M	16.07M
Total Debt	111.32M	109.43M	120.49M	121.66M	102.93M	33.83M
Total Liabilities	133.00M	127.10M	130.06M	134.57M	122.31M	52.04M
Stockholders Equity	928.79M	455.89M	422.57M	402.18M	243.89M	188.55M
Cash Flow
Free Cash Flow	-111.38M	76.67M	58.78M	69.76M	53.36M	29.97M
Operating Cash Flow	-111.36M	76.70M	58.79M	71.77M	53.41M	32.66M
Investing Cash Flow	-170.00M	20.16M	-6.71M	-222.42M	-26.24M	-46.57M
Financing Cash Flow	356.75M	-91.92M	-62.73M	92.78M	52.89M	3.23M

Pinnacle Investment Management Group Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.76
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PNI, the sentiment is Positive. The current price of 19.76 is below the 20-day moving average (MA) of 19.96, above the 50-day MA of 19.21, and below the 200-day MA of 20.43, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 53.50 is Neutral, neither overbought nor oversold. The STOCH value of 61.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:PNI.

Pinnacle Investment Management Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MFG	74 Outperform	€1.44B	6.66	23.27%	6.25%	-9.29%	12.94%
Sector *	67 Neutral	¥712.08B	10.85	7.42%	3.39%	7.79%	16.17%
PNI	67 Neutral	AU$4.18B	28.60	20.18%	3.39%	36.76%	70.74%
PTM	65 Neutral	AU$272.72M	10.53	9.63%	12.90%	-20.84%	-67.39%
CGF	61 Neutral	$5.50B	37.55	3.85%	3.62%	17.95%	-34.24%
IFL	56 Neutral	$2.36B	―	-7.21%	2.61%	-8.26%	-259.91%
AMP	47 Neutral	$3.16B	17.63	4.84%	2.48%	19.36%	1261.54%

Pinnacle Investment Management Group Limited Corporate Events

Pinnacle Investment Management Ceases Substantial Holding in Michael Hill International

Pinnacle Investment Management Group Limited, along with its subsidiaries, has ceased to be a substantial holder in Michael Hill International Ltd as of June 24, 2025. This change indicates a shift in Pinnacle’s investment strategy or portfolio management, potentially impacting its influence over Michael Hill International’s voting securities and decision-making processes.

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.

Pinnacle Investment Director Adjusts Shareholding

Pinnacle Investment Management Group Limited announced a change in the director’s interest, as Deborah Beale disposed of 30,000 ordinary shares through an on-market trade, reducing her holdings to 85,425 shares. This transaction, valued at approximately $592,554, reflects a strategic adjustment in shareholding, potentially impacting the company’s shareholder composition and market perception.

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.

Pinnacle Investment Director Reduces Shareholding

Pinnacle Investment Management Group Limited announced a change in the director’s interest, with Ian Macoun disposing of 3,932,092 ordinary shares through an off-market trade. This transaction, valued at approximately $76.7 million, reduces Macoun’s holdings to 14,343,985 shares, potentially impacting the company’s shareholder structure and market perception.

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.

Pinnacle Investment Management: Change in Substantial Holder’s Voting Power

Pinnacle Investment Management Group Limited has announced a change in the interests of a substantial holder, NTQ Pty Ltd, which is associated with various Macoun family trusts and superannuation funds. The substantial holder’s voting power has decreased from 8.2% to 6.3% following the disposal of a significant number of ordinary shares. This reduction in voting power may impact the company’s shareholder dynamics and influence within the company.

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.

Pinnacle’s Ian Macoun Sells Shares, Retains Significant Stake

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.

Pinnacle Investment Acquires Substantial Stake in Nanosonics

Pinnacle Investment Management Group Limited has become a substantial holder in Nanosonics Ltd, acquiring a 5.21% voting power with 15,812,969 ordinary fully paid shares. This move signifies Pinnacle’s strategic interest in Nanosonics, potentially impacting the company’s market positioning and stakeholder interests.

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.

Pinnacle Investment Gains State Street as Substantial Holder

Pinnacle Investment Management Group Limited has announced the acquisition of a substantial holding in their company by State Street Corporation and its subsidiaries. This development indicates a significant shift in the company’s shareholder structure, potentially impacting its governance and strategic direction. The involvement of major institutional investors like State Street could enhance Pinnacle’s market positioning and influence within the investment management industry.

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.

Pinnacle Investment Management Group Limited Ceases Substantial Holding

Pinnacle Investment Management Group Limited has announced that it has ceased to be a substantial holder in a company, as indicated in a notice dated June 11, 2025. This change in substantial holding reflects a shift in the company’s voting securities and associations, which may impact its influence and strategic positioning within the market.

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.

Pinnacle Investment Increases Stake in Curvebeam AI

Pinnacle Investment Management Group Limited has increased its voting power in Curvebeam AI Ltd from 7.80% to 8.80%, reflecting a strategic move to enhance its influence within the company. This change in substantial holding indicates Pinnacle’s growing interest and potential influence in Curvebeam AI, which could have implications for the company’s strategic direction and stakeholder interests.

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.

Pinnacle Investment Gains Significant Stake in Nine Entertainment

Pinnacle Investment Management Group Limited has become a substantial holder in Nine Entertainment Co Holdings Limited, acquiring a 5.01% voting power through ordinary fully paid shares. This strategic move enhances Pinnacle’s influence in the media industry, potentially impacting its market positioning and stakeholder interests.

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.

Pinnacle Investment Management Sees Major Shift in Substantial Holdings

Pinnacle Investment Management Group Limited has announced a significant change in its substantial holdings, with State Street Corporation and its subsidiaries becoming substantial holders as of June 4, 2025. This shift in voting power and relevant interests involves various entities, including State Street Bank and Trust Company and several retirement systems, indicating a strategic realignment in Pinnacle’s shareholder structure. The announcement highlights the influence of these entities in controlling voting rights and managing securities, which could impact Pinnacle’s future strategic decisions and stakeholder dynamics.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$20.50 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management to Present at Macquarie Conference

Pinnacle Investment Management Group Limited announced its participation in the Macquarie Australia Conference, where it will present to investors and analysts. This engagement highlights Pinnacle’s proactive approach to investor relations and its commitment to transparency, potentially enhancing its market positioning and stakeholder confidence.

Pinnacle Investment Management Sees Shift in Shareholder Structure

Pinnacle Investment Management Group Limited has announced a significant change in its shareholder structure, with a substantial holder acquiring a notable voting power in the company. This development could potentially influence the company’s strategic decisions and impact its market positioning, as the substantial holder now has the power to control the exercise of voting rights and the disposal of securities.

Pinnacle Investment Management Announces Shift in Substantial Holdings

Pinnacle Investment Management Group Limited has announced a significant change in its substantial holdings, with various institutional investors such as State Street Bank and Trust Company, IAM National Pension Fund, and others being involved. This development reflects a strategic shift in the company’s shareholder base, potentially impacting its market positioning and stakeholder interests as these institutional investors may influence the company’s future decisions and strategies.

State Street Ceases Substantial Holding in Pinnacle Investment

Pinnacle Investment Management Group Limited has announced that State Street Corporation and its subsidiaries have ceased to be substantial holders in the company as of April 15, 2025. This change in substantial holding could impact Pinnacle’s shareholder structure and influence within the market, potentially affecting its strategic decisions and stakeholder relationships.

State Street Acquires Substantial Holding in Pinnacle Investment

Pinnacle Investment Management Group Limited has announced a substantial holding in the company by State Street Bank and Trust Company and its associates. This development signifies a significant level of investment interest and control over voting rights by State Street, which could influence Pinnacle’s strategic decisions and shareholder dynamics.