Premier, Inc. (NASDAQ:PINC) Shares Bought by AlphaQuest LLC

AlphaQuest LLC raised its stake in Premier, Inc. (NASDAQ:PINC) by 1,091.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,503 shares of the company’s stock after acquiring an additional 38,937 shares during the period. AlphaQuest LLC’s holdings in Premier were worth $901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group boosted its stake in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock valued at $26,000 after acquiring an additional 1,235 shares during the period. SRS Capital Advisors Inc. boosted its stake in Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares during the period. Keystone Financial Group Inc. acquired a new position in Premier in the fourth quarter valued at approximately $37,000. Smartleaf Asset Management LLC boosted its stake in Premier by 297.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock valued at $40,000 after acquiring an additional 1,427 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Premier in the third quarter valued at approximately $39,000. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PINC shares. Robert W. Baird decreased their target price on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group reduced their price objective on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler reduced their price objective on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.17.

Premier Trading Up 2.0 %

Shares of NASDAQ PINC opened at $18.57 on Tuesday. The company has a market cap of $1.70 billion, a PE ratio of -185.68 and a beta of 0.39. Premier, Inc. has a 12-month low of $17.23 and a 12-month high of $23.56. The stock has a 50 day simple moving average of $20.16 and a 200-day simple moving average of $20.64.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 4.52%. Premier’s dividend payout ratio (DPR) is -840.00%.

Insiders Place Their Bets

In other Premier news, COO Leigh Anderson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total value of $437,600.00. Following the completion of the sale, the chief operating officer now directly owns 111,707 shares in the company, valued at $2,444,149.16. This represents a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Helen M. Boudreau sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the completion of the sale, the director now owns 20,668 shares of the company’s stock, valued at $442,708.56. This trade represents a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,011 shares of company stock worth $911,646 over the last ninety days. Company insiders own 0.96% of the company’s stock.

About Premier

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.