Wolverine Asset Management LLC Boosts Stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Key Points

• Wolverine Asset Management LLC increased its stake in Cross Country Healthcare, Inc. by 32.8%, acquiring an additional 20,037 shares in the first quarter, bringing its total ownership to approximately 81,123 shares worth $1.2 million.
• Cross Country Healthcare reported a loss of ($0.01) earnings per share for the last quarter, missing consensus estimates by ($0.08), with revenue of $274.07 million falling short of expectations.
• Analysts have varying views on Cross Country Healthcare, with the average target price set at $17.93, while several firms have changed their ratings to "hold" or "neutral."

Wolverine Asset Management LLC lifted its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 32.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,123 shares of the business services provider's stock after purchasing an additional 20,037 shares during the period. Wolverine Asset Management LLC owned about 0.25% of Cross Country Healthcare worth $1,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alpine Associates Management Inc. increased its stake in shares of Cross Country Healthcare by 115.6% in the first quarter. Alpine Associates Management Inc. now owns 1,252,524 shares of the business services provider's stock worth $18,650,000 after purchasing an additional 671,492 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in shares of Cross Country Healthcare by 27.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 41,600 shares of the business services provider's stock valued at $619,000 after acquiring an additional 9,000 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Cross Country Healthcare in the 1st quarter worth $952,000. GAMMA Investing LLC increased its stake in Cross Country Healthcare by 1,164.0% during the first quarter. GAMMA Investing LLC now owns 29,944 shares of the business services provider's stock worth $446,000 after acquiring an additional 27,575 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Cross Country Healthcare by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 31,821 shares of the business services provider's stock valued at $474,000 after buying an additional 827 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Cross Country Healthcare Stock Performance

CCRN stock traded up $0.06 during trading on Thursday, reaching $13.17. The company had a trading volume of 85,990 shares, compared to its average volume of 342,755. The firm has a 50-day simple moving average of $13.08 and a 200-day simple moving average of $14.57. The company has a market cap of $431.44 million, a price-to-earnings ratio of -50.48, a price-to-earnings-growth ratio of 5.55 and a beta of 0.35. Cross Country Healthcare, Inc. has a twelve month low of $9.58 and a twelve month high of $18.33.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last released its earnings results on Wednesday, August 6th. The business services provider reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.08). The firm had revenue of $274.07 million for the quarter, compared to analyst estimates of $292.67 million. Cross Country Healthcare had a positive return on equity of 1.72% and a negative net margin of 0.70%. Sell-side analysts expect that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CCRN shares. Wall Street Zen raised shares of Cross Country Healthcare to a "hold" rating in a research note on Saturday, August 9th. UBS Group cut their price target on Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Barrington Research reissued a "market perform" rating and issued a $18.61 price objective on shares of Cross Country Healthcare in a research note on Tuesday, June 17th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Cross Country Healthcare 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.