Groupe la Francaise Makes New $1.57 Million Investment in Cross Country Healthcare, Inc. $CCRN

Key Points

• Groupe la Francaise acquired a new stake in Cross Country Healthcare, purchasing 105,159 shares worth approximately $1.57 million, representing 0.32% ownership of the company.
• Significant increases in ownership were also reported by other investors, with AlphaQuest LLC increasing its position by 324.6% and Hsbc Holdings PLC by 91.8% in the same reporting period.
• Cross Country Healthcare's stock has seen volatility, with a 52-week range between $9.58 and $18.33, and currently holds an average rating of "Hold" with a consensus target price of $17.93.

Groupe la Francaise acquired a new stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 105,159 shares of the business services provider's stock, valued at approximately $1,566,000. Groupe la Francaise owned approximately 0.32% of Cross Country Healthcare at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN lifted its position in Cross Country Healthcare by 20.7% during the 4th quarter. Wells Fargo & Company MN now owns 19,657 shares of the business services provider's stock worth $357,000 after acquiring an additional 3,371 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Cross Country Healthcare during the 4th quarter worth approximately $217,000. Guggenheim Capital LLC acquired a new position in Cross Country Healthcare during the 4th quarter worth approximately $201,000. Marshall Wace LLP lifted its position in Cross Country Healthcare by 714.8% during the 4th quarter. Marshall Wace LLP now owns 93,543 shares of the business services provider's stock worth $1,699,000 after acquiring an additional 82,063 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Cross Country Healthcare by 1,023.8% during the 4th quarter. Hsbc Holdings PLC now owns 413,575 shares of the business services provider's stock worth $7,502,000 after acquiring an additional 376,774 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Cross Country Healthcare Price Performance

Shares of CCRN stock traded up $0.17 on Thursday, hitting $13.37. 126,971 shares of the stock traded hands, compared to its average volume of 338,078. The company has a market capitalization of $438.00 million, a PE ratio of -51.42, a PEG ratio of 6.68 and a beta of 0.35. Cross Country Healthcare, Inc. has a 1-year low of $9.58 and a 1-year high of $18.33. The company's fifty day moving average is $13.12 and its 200 day moving average is $14.25.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported ($0.01) earnings per share (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 firm had revenue of $274.07 million for the quarter, compared to analyst estimates of $292.67 million. As a group, equities research analysts expect that Cross Country Healthcare, Inc. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

CCRN has been the topic of several recent research reports. Wall Street Zen raised Cross Country Healthcare to a "hold" rating in a research report on Saturday, August 9th. UBS Group reduced their price target on 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 reaffirmed a "market perform" rating and issued a $18.61 target price on shares of Cross Country Healthcare in a research report on Tuesday, June 17th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.93.

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.