GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 50.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 436,000 shares of the business services provider's stock after purchasing an additional 146,850 shares during the quarter. Cross Country Healthcare accounts for about 1.0% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its 28th largest holding. GABELLI & Co INVESTMENT ADVISERS INC. owned 1.33% of Cross Country Healthcare worth $6,492,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Longfellow Investment Management Co. LLC acquired a new stake in Cross Country Healthcare during the 1st quarter worth about $59,000. AlphaQuest LLC boosted its position in Cross Country Healthcare by 324.6% during the 1st quarter. AlphaQuest LLC now owns 8,297 shares of the business services provider's stock worth $124,000 after acquiring an additional 6,343 shares during the period. Guggenheim Capital LLC acquired a new stake in Cross Country Healthcare during the 4th quarter worth about $201,000. Envestnet Asset Management Inc. acquired a new stake in Cross Country Healthcare during the 4th quarter worth about $217,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cross Country Healthcare by 4.7% during 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 during the period. Institutional investors and hedge funds own 96.03% of the company's stock.
Cross Country Healthcare Stock Performance
Shares of NASDAQ:CCRN traded up $0.01 during trading on Friday, hitting $13.38. 201,443 shares of the stock were exchanged, compared to its average volume of 257,924. Cross Country Healthcare, Inc. has a 1-year low of $9.58 and a 1-year high of $18.33. The company has a market capitalization of $438.33 million, a price-to-earnings ratio of -51.46, a price-to-earnings-growth ratio of 6.75 and a beta of 0.35. The company's fifty day simple moving average is $13.08 and its 200-day simple moving average is $14.18.
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) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $292.67 million. On average, research analysts forecast that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently commented on CCRN. Wall Street Zen raised Cross Country Healthcare to a "hold" rating in a research note on Saturday, August 9th. Barrington Research reissued 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. Finally, UBS Group cut their price objective on Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Cross Country Healthcare presently has a consensus rating of "Hold" and an average target price of $17.93.
Read Our Latest Stock Report on CCRN
About Cross Country Healthcare
(
Free Report)
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.
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