Entropy Technologies LP Acquires Shares of 16,795 Premier, Inc. (NASDAQ:PINC)

Entropy Technologies LP purchased a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,795 shares of the company's stock, valued at approximately $356,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group raised its holdings in shares of Premier by 61,750.0% during the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock valued at $26,000 after buying an additional 1,235 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Premier by 137.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock valued at $27,000 after buying an additional 780 shares in the last quarter. Keystone Financial Group Inc. purchased a new position in shares of Premier during the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Premier during the 3rd quarter valued at about $39,000. Finally, Quarry LP raised its holdings in shares of Premier by 576.7% during the 3rd quarter. Quarry LP now owns 2,179 shares of the company's stock valued at $44,000 after buying an additional 1,857 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company's stock.

Premier Trading Down 1.5 %

Shares of PINC stock traded down $0.27 during trading hours on Friday, reaching $17.77. The company's stock had a trading volume of 730,776 shares, compared to its average volume of 1,281,494. The stock has a market capitalization of $1.71 billion, a P/E ratio of -177.68 and a beta of 0.43. Premier, Inc. has a one year low of $17.69 and a one year high of $23.56. The firm's fifty day simple moving average is $21.20 and its 200 day simple moving average is $20.84.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.21 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.73%. Premier's dividend payout ratio is currently -839.92%.

Insider Transactions at Premier

In related news, COO Leigh Anderson sold 20,000 shares of Premier stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the sale, the chief operating officer now directly owns 111,707 shares in the company, valued at $2,444,149.16. The trade was a 15.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John T. Bigalke sold 1,136 shares of Premier stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $22.19, for a total value of $25,207.84. Following the sale, the director now owns 23,846 shares in the company, valued at $529,142.74. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,010 shares of company stock worth $916,911. 0.96% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PINC has been the topic of a number of research reports. Canaccord Genuity Group decreased their price objective on Premier from $21.00 to $19.00 and set a "hold" rating on the stock in a report on Wednesday, February 5th. StockNews.com lowered Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Barclays raised their price target on Premier from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. Robert W. Baird reduced their price target on Premier from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler reduced their price target on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Premier has an average rating of "Hold" and an average target price of $20.50.

Premier Profile

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.