Kennondale Capital Management LLC Purchases New Stake in Premier, Inc. (NASDAQ:PINC)

Kennondale Capital Management LLC purchased a new stake in Premier, Inc. (NASDAQ:PINC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,822 shares of the company’s stock, valued at approximately $675,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINC. KBC Group NV raised its stake in Premier by 40.9% in the third quarter. KBC Group NV now owns 4,047 shares of the company’s stock valued at $81,000 after purchasing an additional 1,174 shares in the last quarter. Quest Partners LLC raised its stake in Premier by 356,500.0% during the third quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $71,000 after acquiring an additional 3,565 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Premier by 148.3% during the third quarter. Meeder Asset Management Inc. now owns 6,212 shares of the company’s stock worth $124,000 after acquiring an additional 3,710 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Premier by 812.1% during the third quarter. Advisors Asset Management Inc. now owns 15,114 shares of the company’s stock worth $302,000 after acquiring an additional 13,457 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Premier during the third quarter worth about $316,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Trading Up 0.8 %

NASDAQ:PINC opened at $18.31 on Tuesday. The stock has a market cap of $1.67 billion, a P/E ratio of -183.08 and a beta of 0.39. The stock’s 50-day moving average is $19.79 and its 200-day moving average is $20.57. Premier, Inc. has a 1-year low of $17.23 and a 1-year high of $23.56.

Premier Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.59%. The ex-dividend date was Friday, February 28th. Premier’s payout ratio is presently -840.00%.

Insider Activity at Premier

In other Premier news, COO Leigh Anderson sold 20,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.88, for a total transaction of $437,600.00. Following the transaction, the chief operating officer now directly owns 111,707 shares in the company, valued at approximately $2,444,149.16. This represents a 15.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Helen M. Boudreau sold 2,500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.42, for a total value of $53,550.00. Following the transaction, the director now owns 20,668 shares in the company, valued at $442,708.56. The trade was a 10.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,637 shares of company stock worth $511,093 over the last ninety days. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PINC shares. Canaccord Genuity Group lowered their target price on Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered their target price on Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird reduced their price target on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.17.

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.