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

AlphaQuest LLC grew its stake in shares of Premier, Inc. (NASDAQ:PINC) by 1,091.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 42,503 shares of the company’s stock after buying an additional 38,937 shares during the quarter. AlphaQuest LLC’s holdings in Premier were worth $901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Premier by 28.0% in the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock valued at $43,000 after purchasing an additional 446 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Premier by 2.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,409 shares of the company’s stock valued at $408,000 after purchasing an additional 478 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 786 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Premier by 6.7% in the third quarter. QRG Capital Management Inc. now owns 18,657 shares of the company’s stock valued at $373,000 after purchasing an additional 1,171 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Premier by 40.9% in the third quarter. KBC Group NV now owns 4,047 shares of the company’s stock valued at $81,000 after purchasing an additional 1,174 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Insiders Place Their Bets

In other Premier news, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.42, for a total transaction of $53,550.00. Following the transaction, the director now directly owns 20,668 shares of the company’s stock, valued at $442,708.56. This represents a 10.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Leigh Anderson sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were 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 approximately $2,444,149.16. This represents a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,011 shares of company stock valued at $911,646 over the last three months. 0.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PINC has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group reduced their target price on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, February 5th. Finally, Robert W. Baird cut their price objective on Premier from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.17.

Premier Trading Up 2.0 %

Shares of NASDAQ:PINC opened at $18.57 on Tuesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -185.68 and a beta of 0.39. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56. The business has a fifty day simple moving average of $20.16 and a 200 day simple moving average of $20.64.

Premier Dividend Announcement

The firm 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.52%. The ex-dividend date is Friday, February 28th. Premier’s payout ratio is -840.00%.

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.