Royce & Associates LP Acquires New Shares in Cross Country Healthcare, Inc. $CCRN

Royce & Associates LP acquired a new stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 395,995 shares of the business services provider’s stock, valued at approximately $3,208,000.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Cross Country Healthcare by 42.8% during the third quarter. JPMorgan Chase & Co. now owns 294,845 shares of the business services provider’s stock valued at $4,187,000 after purchasing an additional 88,407 shares during the last quarter. Dana Investment Advisors Inc. boosted its position in Cross Country Healthcare by 71.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 1,008,525 shares of the business services provider’s stock valued at $8,169,000 after purchasing an additional 419,429 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in Cross Country Healthcare during the fourth quarter valued at $2,292,000. Pinnacle Associates Ltd. acquired a new stake in Cross Country Healthcare during the fourth quarter valued at $717,000. Finally, Vestcor Inc boosted its position in Cross Country Healthcare by 2,452.7% during the third quarter. Vestcor Inc now owns 61,519 shares of the business services provider’s stock valued at $874,000 after purchasing an additional 59,109 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cross Research set a $14.00 price objective on Cross Country Healthcare in a research report on Thursday, March 5th. Weiss Ratings raised Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Citigroup cut Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Wedbush cut Cross Country Healthcare from an “outperform” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $13.25 in a research report on Thursday, May 7th. Finally, Benchmark cut Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, May 8th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $12.72.

Cross Country Healthcare Price Performance

Shares of NASDAQ:CCRN opened at $13.09 on Friday. Cross Country Healthcare, Inc. has a fifty-two week low of $7.43 and a fifty-two week high of $14.99. The business has a 50-day moving average of $10.90 and a two-hundred day moving average of $9.74. The stock has a market capitalization of $423.20 million, a P/E ratio of -4.29, a P/E/G ratio of 13.43 and a beta of 0.35.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%.The company had revenue of $241.06 million during the quarter, compared to analysts’ expectations of $237.07 million. As a group, research analysts expect that Cross Country Healthcare, Inc. will post 0.1 EPS for the current fiscal year.

Cross Country Healthcare Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.