AlphaQuest LLC Grows Holdings in Premier, Inc. (NASDAQ:PINC)

AlphaQuest LLC boosted its stake in Premier, Inc. (NASDAQ:PINC - Free Report) by 1,091.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,503 shares of the company's stock after buying an additional 38,937 shares during the period. AlphaQuest LLC's holdings in Premier were worth $901,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PINC. Brooklyn Investment Group lifted its position in Premier by 61,750.0% in the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock worth $26,000 after purchasing an additional 1,235 shares during the period. SRS Capital Advisors Inc. boosted its stake in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. acquired a new position in Premier during the fourth quarter worth about $37,000. Smartleaf Asset Management LLC raised its position in Premier by 297.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock worth $40,000 after acquiring an additional 1,427 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Premier during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 74.41% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Insider Transactions at Premier

In other news, Director Helen M. Boudreau sold 2,500 shares of Premier 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 owns 20,668 shares in the company, valued at $442,708.56. This trade represents a 10.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Leigh Anderson sold 20,000 shares of the company's stock in a transaction 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 transaction, the chief operating officer now owns 111,707 shares of the company's stock, valued at approximately $2,444,149.16. This represents a 15.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,637 shares of company stock worth $511,093. Insiders own 0.96% of the company's stock.

Premier Stock Up 1.1 %

NASDAQ:PINC traded up $0.19 during trading hours on Friday, reaching $18.16. The company had a trading volume of 1,347,985 shares, compared to its average volume of 1,395,602. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -181.58 and a beta of 0.39. The business's 50-day simple moving average is $19.92 and its two-hundred day simple moving average is $20.58. Premier, Inc. has a twelve month low of $17.23 and a twelve month high of $23.56.

Premier Announces Dividend

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 paid 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 4.63%. Premier's dividend payout ratio (DPR) 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.