Hsbc Holdings PLC Increases Position in Cross Country Healthcare, Inc. $CCRN

Key Points

• Hsbc Holdings PLC significantly increased its stake in Cross Country Healthcare, boosting its holdings by 91.8% to a total of 793,258 shares valued at approximately $11.9 million.
• A consortium of institutional investors owns 96.03% of Cross Country Healthcare, with several firms, including Longfellow Investment Management and Guggenheim Capital, acquiring new stakes in recent months.
• Current market forecasts for Cross Country Healthcare predict a 0.53 earnings per share for the fiscal year, with the stock showing a mixed performance from analysts, holding a consensus rating of "Hold" and an average target price of $17.93.

Hsbc Holdings PLC raised its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 91.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 793,258 shares of the business services provider's stock after acquiring an additional 379,683 shares during the period. Hsbc Holdings PLC owned approximately 2.42% of Cross Country Healthcare worth $11,859,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new stake in shares of Cross Country Healthcare in the 1st quarter worth approximately $59,000. Guggenheim Capital LLC bought a new stake in shares of Cross Country Healthcare in the 4th quarter worth approximately $201,000. Envestnet Asset Management Inc. bought a new stake in shares of Cross Country Healthcare in the 4th quarter worth approximately $217,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cross Country Healthcare by 4.7% in 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 buying an additional 817 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Cross Country Healthcare by 20.7% in the 4th quarter. Wells Fargo & Company MN now owns 19,657 shares of the business services provider's stock worth $357,000 after buying an additional 3,371 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Price Performance

Cross Country Healthcare stock traded up $0.07 during mid-day trading on Friday, reaching $13.44. 106,104 shares of the stock traded hands, compared to its average volume of 336,670. The stock has a market capitalization of $440.13 million, a PE ratio of -51.67, a price-to-earnings-growth ratio of 6.67 and a beta of 0.35. Cross Country Healthcare, Inc. has a 12-month low of $9.58 and a 12-month high of $18.33. The business's 50-day moving average is $13.10 and its 200-day moving average is $14.22.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.08). The company had revenue of $274.07 million during the quarter, compared to analysts' expectations of $292.67 million. Cross Country Healthcare had a positive return on equity of 1.72% and a negative net margin of 0.70%. Equities analysts anticipate that Cross Country Healthcare, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCRN has been the topic of a number of recent analyst reports. Barrington Research reiterated a "market perform" rating and issued a $18.61 price objective on shares of Cross Country Healthcare in a research report on Tuesday, June 17th. UBS Group dropped 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, Wall Street Zen upgraded Cross Country Healthcare to a "hold" rating in a research report on Saturday, August 9th. Six equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Cross Country Healthcare currently has an average rating of "Hold" and a consensus target price of $17.93.

About Cross Country Healthcare

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.