Alliancebernstein L.P. Buys 1,058,544 Shares of Cross Country Healthcare, Inc. $CCRN

Key Points

• Alliancebernstein L.P. increased its stake in Cross Country Healthcare by 82.4%, owning approximately 7.15% of the company's stock after acquiring over 1 million shares.
• Shares of Cross Country Healthcare saw a decline of 8.8%, trading at $12.66, with a market capitalization of about $414.74 million.
• Several analysts have rated Cross Country Healthcare with a consensus rating of "Hold" and set an average price target of $17.93.

Alliancebernstein L.P. boosted its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 82.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,343,484 shares of the business services provider's stock after buying an additional 1,058,544 shares during the quarter. Alliancebernstein L.P. owned 7.15% of Cross Country Healthcare worth $34,894,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CCRN. Price T Rowe Associates Inc. MD grew its position in Cross Country Healthcare by 35.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,719 shares of the business services provider's stock worth $431,000 after buying an additional 6,214 shares during the last quarter. Northern Trust Corp grew its position in Cross Country Healthcare by 6.9% in the fourth quarter. Northern Trust Corp now owns 386,175 shares of the business services provider's stock worth $7,013,000 after buying an additional 24,877 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Cross Country Healthcare in the 4th quarter worth approximately $548,000. D. E. Shaw & Co. Inc. boosted its stake in Cross Country Healthcare by 35.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 524,807 shares of the business services provider's stock worth $9,530,000 after purchasing an additional 136,374 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Cross Country Healthcare by 24.7% in the 4th quarter. Janus Henderson Group PLC now owns 133,302 shares of the business services provider's stock worth $2,421,000 after purchasing an additional 26,432 shares during the period. Institutional investors and hedge funds own 96.03% of the company's stock.

Analyst Ratings Changes

CCRN has been the subject of a number of recent analyst reports. Barrington Research reaffirmed a "market perform" rating and issued a $18.61 price objective on shares of Cross Country Healthcare in a research note on Tuesday, June 17th. Wall Street Zen raised shares of Cross Country Healthcare to a "hold" rating in a research note on Saturday, August 9th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $17.93.

Cross Country Healthcare Stock Down 0.9%

Shares of NASDAQ:CCRN traded down $0.11 during trading on Friday, reaching $12.55. 532,012 shares of the company traded hands, compared to its average volume of 336,821. The firm has a fifty day simple moving average of $13.16 and a 200 day simple moving average of $13.85. The firm has a market cap of $411.14 million, a P/E ratio of -48.27, a price-to-earnings-growth ratio of 6.39 and a beta of 0.38. Cross Country Healthcare, Inc. has a 1-year low of $9.58 and a 1-year high of $18.33.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.08). Cross Country Healthcare had a negative net margin of 0.70% and a positive return on equity of 1.72%. The company had revenue of $274.07 million for the quarter, compared to analyst estimates of $292.67 million. As a group, research analysts anticipate that Cross Country Healthcare, Inc. will post 0.53 EPS for the current year.

Cross Country Healthcare Company 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.