Victory Capital Management Inc. Sells 45,855 Shares of 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. lessened its stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 72.6% during the 1st quarter, according to the company in 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 quarter. Victory Capital Management Inc. owned 0.05% of Cross Country Healthcare worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC acquired a new position in Cross Country Healthcare in the fourth quarter worth approximately $25,000. Guggenheim Capital LLC bought a new stake in Cross Country Healthcare in the fourth quarter worth approximately $201,000. Envestnet Asset Management Inc. bought a new position in shares of Cross Country Healthcare during the 4th quarter valued at $217,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $334,000 after purchasing an additional 817 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Cross Country Healthcare by 20.7% in the fourth quarter. Wells Fargo & Company MN now owns 19,657 shares of the business services provider's stock worth $357,000 after purchasing an additional 3,371 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Cross Country Healthcare Price Performance

Shares of NASDAQ CCRN traded down $0.04 during trading hours on Wednesday, hitting $12.80. 122,744 shares of the company's stock were exchanged, compared to its average volume of 345,607. The company's 50-day moving average price is $13.13 and its 200-day moving average price is $14.77. 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 $419.58 million, a price-to-earnings ratio of -24.15, a PEG ratio of 4.02 and a beta of 0.35.

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 EPS for the quarter, topping analysts' consensus estimates 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%. The company's quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. On average, research analysts expect that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CCRN. Wall Street Zen started coverage on Cross Country Healthcare in a research report on Thursday, May 15th. They issued a "hold" rating for the company. Barrington Research restated a "market perform" rating and issued a $18.61 target price on shares of Cross Country Healthcare in a report on Tuesday, June 17th. Finally, UBS Group lowered their price target on Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.93.

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.