What Do Hedge Funds Think of Premier Inc (PINC)?

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Intriguingly, Chuck Royce’s Royce & Associates said goodbye to the largest position of the “upper crust” of funds watched by Insider Monkey, valued at close to $9.2 million in stock, and Cliff Asness’ AQR Capital Management was right behind this move, as the fund dropped about $0.7 million worth. These moves are intriguing to say the least, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Premier Inc (NASDAQ:PINC) but similarly valued. We will take a look at Apollo Investment Corp. (NASDAQ:AINV), Axovant Sciences Ltd (NYSE:AXON), Plexus Corp. (NASDAQ:PLXS), and Super Micro Computer, Inc. (NASDAQ:SMCI). This group of stocks’ market values are closest to PINC’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AINV 17 23528 1
AXON 15 1148980 -6
PLXS 15 108007 0
SMCI 14 64887 0

As you can see these stocks had an average of 15.25 hedge funds with bullish positions and the average amount invested in these stocks was $336 million. That figure was $194 million in PINC’s case. Apollo Investment Corp. (NASDAQ:AINV) is the most popular stock in this table. On the other hand Super Micro Computer, Inc. (NASDAQ:SMCI) is the least popular one with only 14 bullish hedge fund positions. Premier Inc (NASDAQ:PINC) is the most popular stock in the group, which makes it worth a closer look.

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