Cross Country Healthcare, Inc. $CCRN Stock Position Increased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC increased its holdings in Cross Country Healthcare, Inc. by 8.5% this quarter, now owning approximately 7.55% of the company worth around $36.8 million.
• Several hedge funds have significantly increased their positions in Cross Country Healthcare, including OMERS ADMINISTRATION Corp, which boosted its stake by 182.3%.
• Cross Country Healthcare reported a quarterly earnings miss, with EPS of ($0.01) against a consensus estimate of $0.07, and revenues of $274.07 million below the expected $292.67 million.

Magnetar Financial LLC lifted its stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,474,331 shares of the business services provider's stock after buying an additional 193,418 shares during the quarter. Cross Country Healthcare accounts for approximately 0.5% of Magnetar Financial LLC's holdings, making the stock its 27th largest holding. Magnetar Financial LLC owned about 7.55% of Cross Country Healthcare worth $36,843,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Alpine Associates Management Inc. grew its stake in Cross Country Healthcare by 115.6% during the 1st quarter. Alpine Associates Management Inc. now owns 1,252,524 shares of the business services provider's stock valued at $18,650,000 after purchasing an additional 671,492 shares in the last quarter. Hsbc Holdings PLC grew its stake in Cross Country Healthcare by 91.8% during the 1st quarter. Hsbc Holdings PLC now owns 793,258 shares of the business services provider's stock valued at $11,859,000 after purchasing an additional 379,683 shares in the last quarter. AQR Arbitrage LLC acquired a new position in shares of Cross Country Healthcare in the 4th quarter worth approximately $10,851,000. D. E. Shaw & Co. Inc. grew its position in shares of Cross Country Healthcare by 35.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 524,807 shares of the business services provider's stock worth $9,530,000 after acquiring an additional 136,374 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Cross Country Healthcare by 47.5% in the 1st quarter. Gabelli Funds LLC now owns 509,904 shares of the business services provider's stock worth $7,592,000 after acquiring an additional 164,304 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Cross Country Healthcare Price Performance

Shares of NASDAQ CCRN traded up $0.01 during mid-day trading on Monday, hitting $13.38. The company had a trading volume of 201,443 shares, compared to its average volume of 253,346. The stock has a market cap of $438.33 million, a price-to-earnings ratio of -51.46, a PEG ratio of 6.76 and a beta of 0.38. Cross Country Healthcare, Inc. has a 12 month low of $9.58 and a 12 month high of $18.33. The firm's 50 day simple moving average is $13.09 and its two-hundred day simple moving average is $14.09.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on CCRN. UBS Group decreased their target price 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. Wall Street Zen upgraded Cross Country Healthcare to a "hold" rating in a research report on Saturday, August 9th. Finally, Barrington Research reissued a "market perform" rating and issued a $18.61 price target on shares of Cross Country Healthcare in a report on Tuesday, June 17th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $17.93.

Cross Country Healthcare Company 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.