ABC Arbitrage SA Boosts Holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

ABC Arbitrage SA boosted its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 2.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 172,087 shares of the business services provider’s stock after purchasing an additional 4,823 shares during the period. ABC Arbitrage SA’s holdings in Cross Country Healthcare were worth $2,562,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Cross Country Healthcare in the fourth quarter valued at about $2,027,000. Alliancebernstein L.P. boosted its holdings in 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Cross Country Healthcare by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 754,368 shares of the business services provider’s stock worth $13,702,000 after buying an additional 2,112 shares in the last quarter. Trexquant Investment LP boosted its holdings in Cross Country Healthcare by 132.5% during the fourth quarter. Trexquant Investment LP now owns 96,597 shares of the business services provider’s stock worth $1,754,000 after buying an additional 55,043 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Cross Country Healthcare by 20.7% during the fourth quarter. Wells Fargo & Company MN now owns 19,657 shares of the business services provider’s stock worth $357,000 after buying an additional 3,371 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CCRN shares. UBS Group reduced their price objective on Cross Country Healthcare from $18.61 to $16.50 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Barrington Research reissued a “market perform” rating and issued a $18.61 price objective on shares of Cross Country Healthcare in a research report on Tuesday, June 17th. Finally, Wall Street Zen initiated coverage on shares of Cross Country Healthcare in a research report on Thursday, May 15th. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Cross Country Healthcare currently has a consensus rating of “Hold” and an average price target of $17.93.

Cross Country Healthcare Stock Performance

Shares of CCRN stock opened at $12.87 on Tuesday. Cross Country Healthcare, Inc. has a one year low of $9.58 and a one year high of $18.33. The company has a 50 day moving average price of $13.14 and a 200 day moving average price of $14.78. The firm has a market capitalization of $421.92 million, a price-to-earnings ratio of -24.28, a price-to-earnings-growth ratio of 4.07 and a beta of 0.35.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Cross Country Healthcare had a negative net margin of 1.41% and a positive return on equity of 2.56%. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company’s revenue was down 22.6% compared to the same quarter last year. As a group, equities analysts forecast that Cross Country Healthcare, Inc. will post 0.53 EPS for the current fiscal 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’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.