Gabelli Funds LLC Increases Stake in Cross Country Healthcare, Inc. $CCRN

Key Points

• Gabelli Funds LLC has increased its stake in Cross Country Healthcare, Inc. by 47.5%, owning 509,904 shares after purchasing an additional 164,304 shares during the first quarter.
• Cross Country Healthcare reported a loss of $0.01 earnings per share for the last quarter, missing analysts' estimates, and had a revenue of $274.07 million compared to the expected $292.67 million.
• Institutional investors and hedge funds control 96.03% of Cross Country Healthcare's stock, reflecting strong interest from large financial firms.

Gabelli Funds LLC lifted its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 47.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 509,904 shares of the business services provider's stock after purchasing an additional 164,304 shares during the quarter. Gabelli Funds LLC owned 1.56% of Cross Country Healthcare worth $7,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCRN. Wells Fargo & Company MN grew its holdings in shares of Cross Country Healthcare by 20.7% in the fourth quarter. Wells Fargo & Company MN now owns 19,657 shares of the business services provider's stock valued at $357,000 after purchasing an additional 3,371 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Cross Country Healthcare in the fourth quarter valued at $217,000. Susquehanna International Group LLP grew its holdings in shares of Cross Country Healthcare by 1,072.4% in the fourth quarter. Susquehanna International Group LLP now owns 125,425 shares of the business services provider's stock valued at $2,278,000 after purchasing an additional 114,727 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $431,000 after purchasing an additional 6,214 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Cross Country Healthcare in the fourth quarter valued at $396,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Cross Country Healthcare Price Performance

Shares of 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. Cross Country Healthcare, Inc. has a 12 month low of $9.58 and a 12 month high of $18.33. The stock has a market capitalization of $438.33 million, a price-to-earnings ratio of -51.46, a price-to-earnings-growth ratio of 6.76 and a beta of 0.38. The business's 50 day simple moving average is $13.08 and its two-hundred day simple moving average is $14.13.

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. Equities analysts forecast that Cross Country Healthcare, Inc. will post 0.53 EPS 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.