Cross Country Healthcare, Inc. $CCRN Shares Sold by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP has decreased its stake in Cross Country Healthcare by 32.1%, selling 317,710 shares and now holds 671,241 shares worth approximately $9.99 million.
• Cross Country Healthcare's stock is currently rated as a "hold" by several analysts, with a consensus target price of $17.93.
• The company reported a loss of ($0.01) EPS in its most recent earnings, missing the estimated profit of $0.07, with reported revenue of $274.07 million.

Systematic Financial Management LP reduced its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 32.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 671,241 shares of the business services provider's stock after selling 317,710 shares during the period. Systematic Financial Management LP owned about 2.05% of Cross Country Healthcare worth $9,995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CCRN. Alpine Associates Management Inc. lifted its position in shares of 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 buying an additional 671,492 shares in the last quarter. Hsbc Holdings PLC raised its position in Cross Country Healthcare by 91.8% during the first quarter. Hsbc Holdings PLC now owns 793,258 shares of the business services provider's stock worth $11,859,000 after acquiring an additional 379,683 shares during the period. AQR Arbitrage LLC acquired a new position in Cross Country Healthcare during the fourth quarter worth $10,851,000. D. E. Shaw & Co. Inc. raised its position in Cross Country Healthcare by 35.1% during the fourth 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 during the period. Finally, Millennium Management LLC raised its position in Cross Country Healthcare by 657.5% during the fourth quarter. Millennium Management LLC now owns 405,600 shares of the business services provider's stock worth $7,366,000 after acquiring an additional 352,056 shares during the period. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CCRN shares. Wall Street Zen upgraded shares of Cross Country Healthcare to a "hold" rating in a research report on Saturday, August 9th. UBS Group reduced 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. Finally, Barrington Research restated a "market perform" rating and set a $18.61 price objective on shares of Cross Country Healthcare in a research report on Tuesday, June 17th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Cross Country Healthcare has a consensus rating of "Hold" and an average price target of $17.93.

Cross Country Healthcare Stock Performance

Shares of NASDAQ CCRN traded up $0.17 during mid-day trading on Thursday, reaching $13.37. The company's stock had a trading volume of 126,971 shares, compared to its average volume of 338,077. Cross Country Healthcare, Inc. has a 1-year low of $9.58 and a 1-year high of $18.33. The stock has a market capitalization of $438.00 million, a P/E ratio of -51.42, a P/E/G ratio of 6.68 and a beta of 0.35. The stock has a 50-day moving average of $13.12 and a two-hundred day moving average of $14.25.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 1.72% and a negative net margin of 0.70%.The firm had revenue of $274.07 million for the quarter, compared to analyst estimates of $292.67 million. Analysts predict that Cross Country Healthcare, Inc. will post 0.53 EPS for the current fiscal year.

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.