Walleye Capital LLC Makes New Investment in Premier, Inc. (NASDAQ:PINC)

Walleye Capital LLC acquired a new stake in Premier, Inc. (NASDAQ:PINC - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,407 shares of the company's stock, valued at approximately $828,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Premier by 137.6% in the third quarter. GAMMA Investing LLC now owns 1,347 shares of the company's stock valued at $27,000 after acquiring an additional 780 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Premier in the second quarter valued at approximately $47,000. Abich Financial Wealth Management LLC lifted its stake in Premier by 37.0% during the second quarter. Abich Financial Wealth Management LLC now owns 2,672 shares of the company's stock worth $50,000 after purchasing an additional 721 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Premier during the second quarter worth $56,000. Finally, Quest Partners LLC grew its stake in shares of Premier by 356,500.0% in the third quarter. Quest Partners LLC now owns 3,566 shares of the company's stock valued at $71,000 after buying an additional 3,565 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Premier Stock Performance

NASDAQ PINC traded down $0.36 during trading on Friday, reaching $21.61. 549,483 shares of the company's stock were exchanged, compared to its average volume of 718,217. The stock has a market cap of $2.08 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 9.96 and a beta of 0.42. The company has a 50 day moving average price of $21.12 and a two-hundred day moving average price of $20.06. Premier, Inc. has a 1 year low of $17.95 and a 1 year high of $23.56.

Premier (NASDAQ:PINC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.09. Premier had a return on equity of 10.74% and a net margin of 11.41%. The company had revenue of $248.14 million during the quarter, compared to the consensus estimate of $232.85 million. During the same period in the previous year, the business earned $0.50 EPS. Premier's revenue for the quarter was down 7.8% on a year-over-year basis. Research analysts forecast that Premier, Inc. will post 1.09 EPS for the current fiscal year.

Premier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, November 29th. Premier's dividend payout ratio (DPR) is currently 61.77%.

Insider Transactions at Premier

In related news, CEO Michael J. Alkire sold 17,415 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $23.16, for a total value of $403,331.40. Following the transaction, the chief executive officer now owns 520,728 shares in the company, valued at $12,060,060.48. The trade was a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John T. Bigalke sold 1,136 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $22.19, for a total value of $25,207.84. Following the transaction, the director now owns 23,846 shares in the company, valued at $529,142.74. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,451 shares of company stock worth $2,130,959. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PINC. StockNews.com cut shares of Premier from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their target price on Premier from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Benchmark lowered Premier from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. Barclays lifted their price objective on Premier from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Monday, September 9th. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $21.36.

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.