Millennium Management LLC Buys 352,056 Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Millennium Management LLC lifted its stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 657.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 405,600 shares of the business services provider's stock after purchasing an additional 352,056 shares during the period. Millennium Management LLC owned 1.24% of Cross Country Healthcare worth $7,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CCRN. ABC Arbitrage SA bought a new position in shares of Cross Country Healthcare in the 4th quarter worth $3,038,000. Ieq Capital LLC bought a new position in shares of Cross Country Healthcare in the 4th quarter worth $231,000. Wolverine Asset Management LLC bought a new position in shares of Cross Country Healthcare in the 4th quarter worth $1,109,000. Olympiad Research LP bought a new position in shares of Cross Country Healthcare in the 4th quarter worth $1,520,000. Finally, Plato Investment Management Ltd bought a new position in shares of Cross Country Healthcare in the 4th quarter worth $46,000. 96.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CCRN. Wall Street Zen began coverage on shares of Cross Country Healthcare in a research report on Thursday, May 15th. They issued a "hold" rating for the company. UBS Group lowered their price objective on shares of 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. JMP Securities restated a "market perform" rating on shares of Cross Country Healthcare in a research report on Thursday, February 6th. Finally, Barrington Research restated a "market perform" rating and issued a $18.61 price objective on shares of Cross Country Healthcare in a research report on Friday, March 14th. Seven research 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 target price of $17.93.

Cross Country Healthcare Price Performance

Shares of CCRN traded down $0.11 during midday trading on Friday, hitting $13.22. The stock had a trading volume of 374,375 shares, compared to its average volume of 583,687. The company has a 50 day simple moving average of $14.07 and a two-hundred day simple moving average of $15.66. Cross Country Healthcare, Inc. has a twelve month low of $9.58 and a twelve month high of $18.50. The firm has a market cap of $433.39 million, a price-to-earnings ratio of -264.35, a price-to-earnings-growth ratio of 3.32 and a beta of 0.38.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Cross Country Healthcare had a positive return on equity of 5.38% and a negative net margin of 0.12%. During the same period in the prior year, the business posted $0.19 EPS. Cross Country Healthcare's revenue for the quarter was down 22.6% on a year-over-year basis. 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.