Two Sigma Investments LP Takes $892,000 Position in Premier, Inc. (NASDAQ:PINC)

Two Sigma Investments LP purchased a new position in Premier, Inc. (NASDAQ:PINC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,096 shares of the company's stock, valued at approximately $892,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. SRS Capital Advisors Inc. grew its stake in shares of 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 purchasing an additional 786 shares in the last quarter. Keystone Financial Group Inc. bought a new position in Premier during the fourth quarter valued at about $37,000. Smartleaf Asset Management LLC boosted its stake in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after buying an additional 1,427 shares in the last quarter. Van ECK Associates Corp boosted its stake in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock valued at $43,000 after buying an additional 446 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Premier during the fourth quarter valued at about $52,000. Institutional investors own 74.41% of the company's stock.

Insider Transactions at Premier

In other news, General Counsel David L. Klatsky sold 10,982 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the completion of the sale, the general counsel now directly owns 76,093 shares of the company's stock, valued at $1,730,354.82. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Bigalke sold 1,137 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $23.03, for a total value of $26,185.11. Following the sale, the director now directly owns 28,673 shares of the company's stock, valued at $660,339.19. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,119 shares of company stock valued at $516,976 in the last three months. Corporate insiders own 0.96% of the company's stock.

Premier Stock Performance

Shares of NASDAQ:PINC traded down $0.19 during midday trading on Friday, reaching $22.93. The company had a trading volume of 911,580 shares, compared to its average volume of 1,262,826. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -229.28 and a beta of 0.57. The company has a fifty day simple moving average of $21.28 and a two-hundred day simple moving average of $20.73.

Premier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, May 30th. Premier's dividend payout ratio is currently 147.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canaccord Genuity Group raised their target price on Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Robert W. Baird raised their target price on Premier from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Piper Sandler raised their target price on Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $22.20.

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.