Caxton Associates LP Sells 36,905 Shares of Premier, Inc. (NASDAQ:PINC)

Caxton Associates LP trimmed its position in shares of Premier, Inc. (NASDAQ:PINC - Free Report) by 53.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,268 shares of the company's stock after selling 36,905 shares during the period. Caxton Associates LP's holdings in Premier were worth $684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINC. Brandes Investment Partners LP boosted its stake in shares of Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company's stock valued at $17,857,000 after buying an additional 464,710 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Premier during the 4th quarter valued at $5,275,000. Assenagon Asset Management S.A. boosted its stake in shares of Premier by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company's stock valued at $9,933,000 after buying an additional 245,239 shares during the period. Jane Street Group LLC boosted its stake in shares of Premier by 126.9% during the 4th quarter. Jane Street Group LLC now owns 326,254 shares of the company's stock valued at $6,917,000 after buying an additional 182,451 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Premier by 23.6% during the 4th quarter. Invesco Ltd. now owns 719,597 shares of the company's stock valued at $15,255,000 after buying an additional 137,306 shares during the period. 74.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PINC. Piper Sandler decreased their target price on shares of Premier from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Canaccord Genuity Group lifted their price objective on shares of Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday. Finally, Robert W. Baird reduced their price objective on shares of Premier from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.60.

Insider Buying and Selling

In related news, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction 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 in the company, valued at $1,769,359.41. This trade represents a 9.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 22,119 shares of company stock worth $464,974 in the last quarter. 0.96% of the stock is currently owned by company insiders.

Premier Price Performance

Shares of PINC stock traded down $0.03 on Monday, hitting $23.04. The company's stock had a trading volume of 247,981 shares, compared to its average volume of 1,245,291. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -230.31 and a beta of 0.54. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56. The firm's fifty day moving average price is $19.51 and its 200-day moving average price is $20.55.

Premier Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.65%. Premier's dividend payout ratio (DPR) is presently 147.37%.

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.