Dark Forest Capital Management LP Makes New $816,000 Investment in Premier, Inc. (NASDAQ:PINC)

Dark Forest Capital Management LP purchased a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 38,490 shares of the company's stock, valued at approximately $816,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of Premier by 32.2% during the third quarter. Barclays PLC now owns 154,128 shares of the company's stock worth $3,081,000 after buying an additional 37,551 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Premier during the 3rd quarter valued at $39,000. Versant Capital Management Inc grew its position in Premier by 96.8% during the 4th quarter. Versant Capital Management Inc now owns 3,906 shares of the company's stock worth $83,000 after acquiring an additional 1,921 shares during the last quarter. Nordea Investment Management AB increased its holdings in Premier by 21.0% in the 4th quarter. Nordea Investment Management AB now owns 256,492 shares of the company's stock worth $5,465,000 after purchasing an additional 44,480 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Premier by 34.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,627 shares of the company's stock worth $673,000 after purchasing an additional 8,560 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PINC. Piper Sandler reduced their price target on Premier from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Robert W. Baird reduced their target price on shares of 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 dropped their price target 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. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $20.17.

Premier Stock Performance

Shares of PINC stock traded down $0.15 during mid-day trading on Wednesday, hitting $20.24. The company's stock had a trading volume of 123,846 shares, compared to its average volume of 1,259,149. Premier, Inc. has a 52 week low of $17.23 and a 52 week high of $23.56. The company's fifty day simple moving average is $18.93 and its 200-day simple moving average is $20.44. The company has a market cap of $1.85 billion, a PE ratio of -202.38 and a beta of 0.51.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.15%. The ex-dividend date is Friday, May 30th. Premier's dividend payout ratio (DPR) is presently -840.00%.

Insiders Place Their Bets

In related news, General Counsel David L. Klatsky sold 10,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $19.53, for a total transaction of $195,300.00. Following the transaction, the general counsel now directly owns 90,597 shares of the company's stock, valued at $1,769,359.41. This represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.96% of the company's stock.

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.