AdvisorShares Investments LLC Buys New Position in Premier, Inc. (NASDAQ:PINC)

AdvisorShares Investments LLC acquired a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 22,180 shares of the company's stock, valued at approximately $470,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its holdings in shares of Premier by 61,750.0% in the 4th quarter. Brooklyn Investment Group now owns 1,237 shares of the company's stock worth $26,000 after purchasing an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Premier by 157.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock worth $27,000 after buying an additional 786 shares during the last quarter. Keystone Financial Group Inc. bought a new position in shares of Premier in the fourth quarter valued at $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier during the 3rd quarter valued at $39,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Premier by 297.9% during the 4th 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. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total value of $195,300.00. Following the transaction, the general counsel now owns 90,597 shares of the company's stock, valued at $1,769,359.41. This trade represents a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is currently owned by insiders.

Premier Stock Performance

Shares of NASDAQ PINC traded up $0.07 during trading hours on Monday, hitting $20.53. The stock had a trading volume of 322,394 shares, compared to its average volume of 1,255,395. The firm's 50-day moving average price is $19.05 and its two-hundred day moving average price is $20.46. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56. The company has a market capitalization of $1.87 billion, a P/E ratio of -205.49 and a beta of 0.54.

Premier Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 4.09%. Premier's dividend payout ratio (DPR) is presently -840.00%.

Premier Company 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.