The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Premier Inc shares valued at $253,042 were sold by Brailo Andy on May 28 ’24. At $19.00 per share, Brailo Andy sold 13,318 shares. The insider’s holdings dropped to 98,427 shares worth approximately $1.86 million following the completion of this transaction.
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Also, Brailo Andy sold 7,458 shares, netting a total of over 144,163 in proceeds. Following the sale of shares at $19.33 each, the insider now holds 111,745 shares.
Before that, Anderson Leigh had sold 20,000 shares from its account. In a trade valued at $388,200, the Chief Operating Officer traded Premier Inc shares for $19.41 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $3.48 million.
As published in a research note from Canaccord Genuity on May 08, 2024, Premier Inc [PINC] has been rated down from a Buy to a Hold and the price target has been revised to $21 from $27. Analysts at Leerink Partners started covering the stock with ‘”a Market perform”‘ outlook in a report released in late February. As of January 03, 2024, Barclays has initiated its “an Equal weight” rating for PINC. Earlier on August 23, 2023, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for PINC stock which previously was a “an Overweight”.
Analyzing PINC Stock Performance
Over the course of the year, Premier Inc shares have dropped approximately -15.30%. Shares of the company reached a 52-week high of $23.01 on 01/08/24 and a 52-week low of $18.57 on 06/06/24. A 50-day SMA is recorded $20.31, while a 200-day SMA reached $21.07. Nevertheless, trading volume fell to 1.41 million shares from 1.53 million shares the previous day.
Support And Resistance Levels for Premier Inc (PINC)
According to the 24-hour chart, there is a support level at 18.68, which, if violated, would cause prices to drop to 18.41. In the upper region, resistance lies at 19.09. The next price resistance is at 19.24. RSI (Relative Strength Index) is 37.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 69.01%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
