BNP Paribas Arbitrage SA grew its stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 413.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,407 shares of the business services provider’s stock after buying an additional 5,964 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Cross Country Healthcare were worth $52,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Magnus Financial Group LLC bought a new stake in Cross Country Healthcare during the 4th quarter valued at approximately $83,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Cross Country Healthcare during the fourth quarter valued at approximately $101,000. Bank of New York Mellon Corp raised its holdings in Cross Country Healthcare by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 473,374 shares of the business services provider’s stock worth $3,470,000 after acquiring an additional 16,299 shares during the last quarter. Tocqueville Asset Management L.P. raised its holdings in Cross Country Healthcare by 10.5% in the 4th quarter. Tocqueville Asset Management L.P. now owns 260,150 shares of the business services provider’s stock worth $1,907,000 after acquiring an additional 24,650 shares during the last quarter. Finally, 22NW LP raised its holdings in Cross Country Healthcare by 22.8% in the 4th quarter. 22NW LP now owns 375,758 shares of the business services provider’s stock worth $2,754,000 after acquiring an additional 69,833 shares during the last quarter. 93.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on CCRN. BidaskClub lowered shares of Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Saturday, June 1st. Zacks Investment Research raised shares of Cross Country Healthcare from a “strong sell” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, ValuEngine raised shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cross Country Healthcare presently has a consensus rating of “Hold” and a consensus price target of $9.80.
Cross Country Healthcare stock traded up $0.04 during midday trading on Monday, reaching $9.42. The stock had a trading volume of 230,600 shares, compared to its average volume of 211,292. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.08 and a current ratio of 2.08. Cross Country Healthcare, Inc. has a 52-week low of $6.75 and a 52-week high of $12.75. The company has a market capitalization of $350.25 million, a price-to-earnings ratio of 78.17, a price-to-earnings-growth ratio of 13.53 and a beta of 1.24. The stock has a fifty day simple moving average of $7.86.
Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.06. The business had revenue of $195.10 million for the quarter, compared to the consensus estimate of $198.47 million. Cross Country Healthcare had a negative net margin of 2.54% and a positive return on equity of 1.19%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. On average, equities analysts forecast that Cross Country Healthcare, Inc. will post 0.06 EPS for the current fiscal year.
Cross Country Healthcare Profile
Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. 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.
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