GAMMA Investing LLC Raises Stake in Premier, Inc. (NASDAQ:PINC)

GAMMA Investing LLC boosted its position in Premier, Inc. (NASDAQ:PINC - Free Report) by 1,435.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,924 shares of the company's stock after purchasing an additional 21,431 shares during the period. GAMMA Investing LLC's holdings in Premier were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of Premier by 20.5% during the 4th quarter. Northern Trust Corp now owns 741,739 shares of the company's stock valued at $15,725,000 after acquiring an additional 126,217 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Premier during the 4th quarter valued at approximately $386,000. Steward Partners Investment Advisory LLC bought a new position in shares of Premier during the 4th quarter valued at approximately $554,000. Two Sigma Investments LP bought a new position in shares of Premier during the 4th quarter valued at approximately $892,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Premier during the 4th quarter valued at approximately $353,000. 74.41% of the stock is owned by institutional investors.

Premier Stock Down 0.8%

PINC traded down $0.17 on Monday, hitting $21.89. The company's stock had a trading volume of 1,339,273 shares, compared to its average volume of 1,223,780. The company's 50 day simple moving average is $21.95 and its 200-day simple moving average is $20.71. The firm has a market cap of $1.80 billion, a P/E ratio of 38.40 and a beta of 0.57. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56.

Premier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Friday, May 30th. Premier's payout ratio is 147.37%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PINC. Piper Sandler increased their target price on shares of Premier from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Canaccord Genuity Group increased their target price on shares of Premier from $19.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, Robert W. Baird raised their price objective on shares of Premier from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Premier has a consensus rating of "Hold" and a consensus target price of $22.20.

Insider Buying and Selling at Premier

In other news, Director Helen M. Boudreau sold 2,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $22.88, for a total transaction of $45,760.00. Following the sale, the director now owns 18,668 shares in the company, valued at $427,123.84. This represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David L. Klatsky sold 10,000 shares of Premier stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the completion of the sale, the general counsel now 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 disclosure for this sale can be found here. Insiders sold a total of 24,119 shares of company stock valued at $516,976 in the last three months. 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.