WBI Investments LLC Takes $454,000 Position in Premier, Inc. (NASDAQ:PINC)

WBI Investments LLC acquired a new stake in shares of Premier, Inc. (NASDAQ:PINC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,398 shares of the company’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group grew its holdings in Premier by 61,750.0% during the fourth quarter. Brooklyn Investment Group now owns 1,237 shares of the company’s stock worth $26,000 after buying an additional 1,235 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Premier by 157.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,284 shares of the company’s stock worth $27,000 after buying an additional 786 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in Premier during the fourth quarter worth $37,000. Smartleaf Asset Management LLC grew its holdings in Premier by 297.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,906 shares of the company’s stock worth $40,000 after buying an additional 1,427 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Premier by 28.0% during the fourth quarter. Van ECK Associates Corp now owns 2,041 shares of the company’s stock worth $43,000 after buying an additional 446 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.

Insider Buying and Selling at Premier

In other news, General Counsel David L. Klatsky sold 10,982 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $22.74, for a total transaction of $249,730.68. Following the transaction, the general counsel now owns 76,093 shares of the company’s stock, valued at $1,730,354.82. This represents a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders 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 NASDAQ:PINC opened at $23.11 on Tuesday. The company has a market capitalization of $1.90 billion, a PE ratio of -231.08 and a beta of 0.54. The business has a fifty day moving average price of $20.09 and a two-hundred day moving average price of $20.67. Premier, Inc. has a 1 year low of $17.23 and a 1 year high of $23.56.

Premier Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.63%. Premier’s dividend payout ratio (DPR) is presently 147.37%.

Analyst Ratings Changes

PINC has been the subject of several recent research reports. Piper Sandler decreased their price target on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group upped their price target on Premier from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Finally, Robert W. Baird upped their price target on Premier from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.20.

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.