Ritholtz Wealth Management Makes New $917,000 Investment in Premier, Inc. (NASDAQ:PINC)

Ritholtz Wealth Management acquired a new stake in shares of Premier, Inc. (NASDAQ:PINC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,577 shares of the company's stock, valued at approximately $917,000. Ritholtz Wealth Management owned approximately 0.05% of Premier as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in Premier by 28.0% during the 4th quarter. Van ECK Associates Corp now owns 2,041 shares of the company's stock valued at $43,000 after acquiring an additional 446 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Premier by 157.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company's stock valued at $27,000 after acquiring an additional 786 shares during the period. Russell Investments Group Ltd. boosted its holdings in Premier by 40.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,371 shares of the company's stock valued at $93,000 after acquiring an additional 1,257 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Premier by 297.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company's stock valued at $40,000 after acquiring an additional 1,427 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Premier by 44.5% during the 4th quarter. Sterling Capital Management LLC now owns 5,737 shares of the company's stock valued at $122,000 after acquiring an additional 1,767 shares during the period. Institutional investors and hedge funds own 74.41% of the company's stock.

Premier Price Performance

Shares of NASDAQ:PINC traded down $0.21 during trading on Friday, reaching $22.06. The company had a trading volume of 5,068,377 shares, compared to its average volume of 1,223,316. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 38.70 and a beta of 0.57. The stock's fifty day moving average price is $21.90 and its 200 day moving average price is $20.71. Premier, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $23.56.

Premier Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, May 30th. Premier's payout ratio is currently 147.37%.

Insider Activity

In related news, Director John T. Bigalke sold 1,137 shares of Premier stock in a transaction that occurred on 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 in the company, valued at $660,339.19. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Helen M. Boudreau sold 2,000 shares of Premier stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $22.88, for a total value of $45,760.00. Following the completion of the sale, the director now owns 18,668 shares in the company, valued at approximately $427,123.84. This trade represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,119 shares of company stock valued at $516,976. Company insiders own 0.96% of the company's stock.

Analyst Ratings Changes

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

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.