Bank of America Corp DE Decreases Stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Bank of America Corp DE reduced its stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 67.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,353 shares of the business services provider's stock after selling 214,357 shares during the period. Bank of America Corp DE owned 0.31% of Cross Country Healthcare worth $1,859,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Magnetar Financial LLC bought a new position in Cross Country Healthcare in the fourth quarter valued at $41,421,000. Alliancebernstein L.P. raised its stake in shares of Cross Country Healthcare by 443.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,284,940 shares of the business services provider's stock worth $23,335,000 after purchasing an additional 1,048,605 shares in the last quarter. Royce & Associates LP grew its stake in shares of Cross Country Healthcare by 3.4% in the fourth quarter. Royce & Associates LP now owns 1,170,945 shares of the business services provider's stock valued at $21,264,000 after buying an additional 38,379 shares in the last quarter. American Century Companies Inc. increased its holdings in Cross Country Healthcare by 9.8% during the fourth quarter. American Century Companies Inc. now owns 1,032,203 shares of the business services provider's stock worth $18,745,000 after buying an additional 92,114 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Cross Country Healthcare by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 754,368 shares of the business services provider's stock worth $13,702,000 after acquiring an additional 2,112 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCRN has been the subject of a number of research analyst reports. Wall Street Zen initiated coverage on Cross Country Healthcare in a report on Thursday, May 15th. They set a "hold" rating for the company. UBS Group cut their target price on shares of Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Barrington Research reissued a "market perform" rating and set a $18.61 target price on shares of Cross Country Healthcare in a research report on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $17.93.

Cross Country Healthcare Stock Down 0.3%

Cross Country Healthcare stock traded down $0.04 during midday trading on Friday, hitting $12.91. 191,835 shares of the stock were exchanged, compared to its average volume of 580,676. Cross Country Healthcare, Inc. has a 52-week low of $9.58 and a 52-week high of $18.50. The business's 50-day moving average price is $13.87 and its 200-day moving average price is $15.72. The stock has a market capitalization of $423.23 million, a price-to-earnings ratio of -258.15, a price-to-earnings-growth ratio of 3.32 and a beta of 0.37.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Cross Country Healthcare had a positive return on equity of 5.38% and a negative net margin of 0.12%. The company's quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. On average, sell-side analysts predict that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current fiscal 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.