Easterly Investment Partners LLC Takes $849,000 Position in Cross Country Healthcare, Inc. $CCRN

Key Points

• Easterly Investment Partners LLC has acquired a new stake in Cross Country Healthcare, Inc., purchasing 65,077 shares valued at approximately $849,000, representing about 0.20% of the company.
• The consensus rating for Cross Country Healthcare is "Reduce" with a price target of $17.93, as indicated by multiple analysts, including a recent upgrade to a "hold" rating.
• Cross Country Healthcare's recent quarterly earnings report showed a loss of ($0.01) EPS, falling short of analysts' expectations, with revenues reporting $274.07 million, below the forecast of $292.67 million.

Easterly Investment Partners LLC acquired a new stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 65,077 shares of the business services provider's stock, valued at approximately $849,000. Easterly Investment Partners LLC owned approximately 0.20% of Cross Country Healthcare as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC raised its position in Cross Country Healthcare by 139.9% in the 2nd quarter. Signaturefd LLC now owns 2,193 shares of the business services provider's stock worth $29,000 after purchasing an additional 1,279 shares during the period. Longfellow Investment Management Co. LLC purchased a new position in Cross Country Healthcare in the 1st quarter worth $59,000. AlphaQuest LLC raised its position in Cross Country Healthcare by 324.6% in the 1st quarter. AlphaQuest LLC now owns 8,297 shares of the business services provider's stock worth $124,000 after purchasing an additional 6,343 shares during the period. Ballentine Partners LLC purchased a new position in Cross Country Healthcare in the 2nd quarter worth $166,000. Finally, Nomura Holdings Inc. purchased a new position in Cross Country Healthcare in the 1st quarter worth $232,000. Institutional investors own 96.03% of the company's stock.

Wall Street Analyst Weigh In

CCRN has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Cross Country Healthcare to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Cross Country Healthcare in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $17.93.

Cross Country Healthcare Stock Down 1.8%

Shares of Cross Country Healthcare stock opened at $12.62 on Friday. The firm has a market cap of $413.46 million, a PE ratio of -48.54, a price-to-earnings-growth ratio of 9.40 and a beta of 0.39. Cross Country Healthcare, Inc. has a 12-month low of $9.58 and a 12-month high of $18.33. The company's fifty day simple moving average is $13.28 and its two-hundred day simple moving average is $13.43.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last announced its quarterly 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). The firm had revenue of $274.07 million during the quarter, compared to the consensus estimate of $292.67 million. Cross Country Healthcare had a positive return on equity of 1.72% and a negative net margin of 0.70%. As a group, sell-side analysts expect that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding CCRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.