Shares of Pinnacle Investment Management (ASX:PNI) saw a marked decrease, dropping by as much as 7% to A$9.720.

This decline is the most significant slump since March 2, if the trend continues.

The investment management firm reported a fiscal year revenue from ordinary activities of A$45.5 million, reflecting a 1.1% decrease.

The earnings per share from continuing operations, on a statutory basis, also saw a dip of 2.2% to 39.3 Australian cents per share, aligning exactly with Macquarie’s estimates.

Despite these figures, Pinnacle Investment Management (ASX:PNI) continued to invest in medium-term opportunities that show profitability, costing roughly A$14 million in fiscal year 23, up from A$12 million in fiscal year 22.

This strategic investment has moderated short-term profit.

Macquarie responded by raising their price target to A$11.22 from A$10.95 while maintaining an ‘outperform’ rating.

Shares of Pinnacle Investment Management (ASX:PNI) have reached their lowest level since July 14.

Among financial analysts, four rate the stock as a ‘buy’ and two hold a ‘hold’ stance.

The median price target among them is A$10.50, according to Refinitiv data.

Despite the recent slump, the stock has risen by 19.7% this year, up until the last close.

Pinnacle Investment Management (ASX:PNI) is a firm focused on investment management with a strategic emphasis on medium-term, lucrative opportunities.