Pacer Advisors Inc. Invests $5.85 Million in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Key Points

• Pacer Advisors Inc. has acquired a new stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN) with 393,093 shares valued at approximately $5.85 million, equating to about 1.20% ownership of the company.
• Several institutional investors, including Alliancebernstein L.P., American Century Companies Inc., and D. E. Shaw & Co. Inc., have significantly increased their stakes in Cross Country Healthcare, indicating strong institutional interest in the company.
• Cross Country Healthcare reported an EPS of $0.06 for the last quarter, surpassing analysts' expectations, despite a 22.6% decline in quarterly revenue compared to the prior year.

Pacer Advisors Inc. acquired a new position in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 393,093 shares of the business services provider's stock, valued at approximately $5,853,000. Pacer Advisors Inc. owned approximately 1.20% of Cross Country Healthcare as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CCRN. Quadrant Capital Group LLC bought a new position in shares of Cross Country Healthcare during the 4th quarter worth approximately $25,000. Guggenheim Capital LLC bought a new stake in Cross Country Healthcare during the 4th quarter worth $201,000. Envestnet Asset Management Inc. bought a new position in Cross Country Healthcare during the 4th quarter worth $217,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cross Country Healthcare by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,386 shares of the business services provider's stock worth $334,000 after acquiring an additional 817 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Cross Country Healthcare by 20.7% in the fourth quarter. Wells Fargo & Company MN now owns 19,657 shares of the business services provider's stock valued at $357,000 after purchasing an additional 3,371 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Price Performance

NASDAQ CCRN traded up $0.32 during mid-day trading on Thursday, reaching $13.45. The stock had a trading volume of 92,679 shares, compared to its average volume of 347,750. Cross Country Healthcare, Inc. has a 1 year low of $9.58 and a 1 year high of $18.50. The company has a fifty day moving average price of $13.17 and a 200 day moving average price of $14.93. The stock has a market cap of $440.73 million, a PE ratio of -25.37, a price-to-earnings-growth ratio of 4.31 and a beta of 0.36.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. Cross Country Healthcare had a positive return on equity of 2.56% and a negative net margin of 1.41%. During the same period in the prior year, the company earned $0.19 EPS. The firm's revenue for the quarter was down 22.6% compared to the same quarter last year. As a group, equities research analysts expect that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen started coverage on shares of Cross Country Healthcare in a research note on Thursday, May 15th. They issued a "hold" rating for the company. Finally, Barrington Research reissued a "market perform" rating and issued a $18.61 target price on shares of Cross Country Healthcare in a research note on Tuesday, June 17th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.93.

Cross Country Healthcare Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.