Victory Capital Management Inc. Trims Holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Key Points

• Victory Capital Management Inc. has sold 45,855 shares of Cross Country Healthcare, reducing its ownership by 72.6% to approximately 0.05% of the company, valued at $258,000.
• Institutional investors now hold 96.03% of Cross Country Healthcare's stock, with significant recent purchases including a 443.7% increase in holdings by AllianceBernstein L.P.
• Cross Country Healthcare reported a 22.6% year-over-year decline in quarterly revenue, with an earnings per share of $0.06 that beat analysts' expectations of $0.04.

Victory Capital Management Inc. decreased its stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 72.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,312 shares of the business services provider's stock after selling 45,855 shares during the period. Victory Capital Management Inc. owned 0.05% of Cross Country Healthcare worth $258,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. grew its stake in shares of Cross Country Healthcare by 443.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,284,940 shares of the business services provider's stock worth $23,335,000 after buying an additional 1,048,605 shares during the last quarter. Geode Capital Management LLC grew its position in Cross Country Healthcare by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 754,368 shares of the business services provider's stock valued at $13,702,000 after purchasing an additional 2,112 shares during the period. AQR Arbitrage LLC acquired a new position in Cross Country Healthcare during the 4th quarter valued at about $10,851,000. D. E. Shaw & Co. Inc. boosted its holdings in Cross Country Healthcare by 35.1% during 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 during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of 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 buying an additional 376,774 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Cross Country Healthcare Stock Down 3.0%

Shares of NASDAQ:CCRN traded down $0.41 on Friday, hitting $13.04. The company had a trading volume of 293,002 shares, compared to its average volume of 254,829. Cross Country Healthcare, Inc. has a 1 year low of $9.58 and a 1 year high of $18.33. The firm has a market capitalization of $427.45 million, a price-to-earnings ratio of -24.60, a P/E/G ratio of 4.07 and a beta of 0.35. The firm's 50-day simple moving average is $13.16 and its two-hundred day simple moving average is $14.84.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Cross Country Healthcare had a positive return on equity of 2.56% and a negative net margin of 1.41%. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Cross Country Healthcare's quarterly revenue was down 22.6% compared to the same quarter last year. Equities research analysts anticipate that Cross Country Healthcare, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

CCRN has been the subject of a number of recent research reports. Barrington Research reissued 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. UBS Group cut their price target on shares of Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen assumed coverage on shares of Cross Country Healthcare in a report on Thursday, May 15th. They issued a "hold" rating for the company. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently 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.