Charles Schwab Investment Management Inc. Purchases 87,353 Shares of Cross Country Healthcare, Inc. $CCRN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Cross Country Healthcare by 27.7%, acquiring an additional 87,353 shares and now holds approximately 1.23% of the company.
• Cross Country Healthcare has received mixed ratings from analysts, with a current average rating of "Hold" and a price target of $17.93.
• The company's recent earnings report showed a loss with an EPS of ($0.01), falling short of analyst estimates and with revenue below projections at $274.07 million.

Charles Schwab Investment Management Inc. increased its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 27.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 402,230 shares of the business services provider's stock after purchasing an additional 87,353 shares during the period. Charles Schwab Investment Management Inc. owned 1.23% of Cross Country Healthcare worth $5,989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCRN. Alpine Associates Management Inc. grew its holdings in Cross Country Healthcare by 115.6% during the first quarter. Alpine Associates Management Inc. now owns 1,252,524 shares of the business services provider's stock worth $18,650,000 after purchasing an additional 671,492 shares during the period. AQR Arbitrage LLC bought a new position in Cross Country Healthcare during the fourth quarter worth about $10,851,000. Pacer Advisors Inc. bought a new position in Cross Country Healthcare during the first quarter worth about $5,853,000. Millennium Management LLC grew its holdings in Cross Country Healthcare by 657.5% during the fourth quarter. Millennium Management LLC now owns 405,600 shares of the business services provider's stock worth $7,366,000 after purchasing an additional 352,056 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Cross Country Healthcare by 508.8% during the fourth quarter. Squarepoint Ops LLC now owns 255,362 shares of the business services provider's stock worth $4,637,000 after acquiring an additional 213,416 shares during the period. Institutional investors own 96.03% of the company's stock.

Cross Country Healthcare Trading Up 0.1%

NASDAQ CCRN traded up $0.01 on Monday, hitting $13.38. 201,443 shares of the company's stock were exchanged, compared to its average volume of 253,346. The stock has a 50-day moving average of $13.08 and a 200-day moving average of $14.13. Cross Country Healthcare, Inc. has a 52 week low of $9.58 and a 52 week high of $18.33. The stock has a market cap of $438.33 million, a price-to-earnings ratio of -51.46, a P/E/G ratio of 6.76 and a beta of 0.38.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CCRN shares. Wall Street Zen upgraded Cross Country Healthcare to a "hold" rating in a report on Saturday, August 9th. UBS Group reduced their price objective on Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Barrington Research restated a "market perform" rating and set a $18.61 price objective on shares of Cross Country Healthcare in a report on Tuesday, June 17th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Cross Country Healthcare presently has a consensus rating of "Hold" and a consensus target price of $17.93.

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.