Acadian Asset Management LLC increased its position in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 787,721 shares of the business services provider’s stock after purchasing an additional 150,316 shares during the quarter. Acadian Asset Management LLC owned approximately 2.10% of Cross Country Healthcare worth $5,115,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CCRN. Assenagon Asset Management S.A. lifted its position in Cross Country Healthcare by 3,995.0% in the second quarter. Assenagon Asset Management S.A. now owns 429,400 shares of the business services provider’s stock worth $2,645,000 after purchasing an additional 418,914 shares during the period. Federated Hermes Inc. raised its stake in Cross Country Healthcare by 18,810.0% during the second quarter. Federated Hermes Inc. now owns 218,221 shares of the business services provider’s stock worth $1,344,000 after acquiring an additional 217,067 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in Cross Country Healthcare by 24.9% during the second quarter. Tocqueville Asset Management L.P. now owns 543,400 shares of the business services provider’s stock worth $3,347,000 after acquiring an additional 108,300 shares in the last quarter. Engineers Gate Manager LP raised its stake in Cross Country Healthcare by 600.7% during the second quarter. Engineers Gate Manager LP now owns 72,852 shares of the business services provider’s stock worth $449,000 after acquiring an additional 62,455 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its stake in Cross Country Healthcare by 207.1% during the second quarter. First Republic Investment Management Inc. now owns 85,587 shares of the business services provider’s stock worth $527,000 after acquiring an additional 57,715 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.
CCRN has been the subject of several recent analyst reports. Zacks Investment Research upgraded Cross Country Healthcare from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Monday, November 2nd. BMO Capital Markets increased their price objective on Cross Country Healthcare from $7.00 to $9.00 and gave the stock a “market perform” rating in a research note on Thursday, November 5th. Truist upgraded Cross Country Healthcare from a “hold” rating to a “buy” rating and increased their price objective for the stock from $7.00 to $10.00 in a research note on Friday, October 30th. Barrington Research reiterated a “buy” rating and set a $9.00 price objective on shares of Cross Country Healthcare in a research note on Wednesday, August 12th. Finally, Bank of America initiated coverage on Cross Country Healthcare in a research note on Thursday, October 8th. They set an “underperform” rating and a $7.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.84.
Shares of CCRN opened at $7.72 on Friday. Cross Country Healthcare, Inc. has a 1 year low of $4.50 and a 1 year high of $13.42. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.38. The stock has a market cap of $289.99 million, a P/E ratio of -14.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.09. The stock’s 50-day moving average price is $7.43 and its two-hundred day moving average price is $6.49.
Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Wednesday, November 4th. The business services provider reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.15. The firm had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $174.57 million. Cross Country Healthcare had a positive return on equity of 8.11% and a negative net margin of 2.24%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. As a group, equities analysts forecast that Cross Country Healthcare, Inc. will post 0.31 EPS for the current year.
Cross Country Healthcare Company Profile
Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Search. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments, as well as workforce solutions, including MSP, OWS, RPO, IRP, EMR, and consulting services.
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