SG Americas Securities LLC increased its position in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 62.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,422 shares of the business services provider’s stock after acquiring an additional 7,502 shares during the quarter. SG Americas Securities LLC owned about 0.05% of Cross Country Healthcare worth $137,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in Cross Country Healthcare by 413.3% during the first quarter. BNP Paribas Arbitrage SA now owns 7,407 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 5,964 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Cross Country Healthcare during the fourth quarter valued at approximately $75,000. Magnus Financial Group LLC bought a new stake in Cross Country Healthcare during the fourth quarter valued at approximately $83,000. Metropolitan Life Insurance Co. NY lifted its position in Cross Country Healthcare by 399.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,861 shares of the business services provider’s stock valued at $87,000 after purchasing an additional 9,486 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Cross Country Healthcare by 36.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,104 shares of the business services provider’s stock valued at $97,000 after purchasing an additional 3,476 shares during the last quarter. Institutional investors own 93.66% of the company’s stock.
Several equities research analysts have issued reports on CCRN shares. Barrington Research set a $10.00 target price on shares of Cross Country Healthcare and gave the company a “buy” rating in a research report on Monday, May 20th. BidaskClub downgraded shares of Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. ValuEngine downgraded shares of Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Zacks Investment Research downgraded shares of Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.80.
Cross Country Healthcare stock traded up $0.04 during mid-day trading on Monday, reaching $9.42. 230,600 shares of the company traded hands, compared to its average volume of 211,292. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50 day moving average price is $7.94. The stock has a market capitalization of $350.25 million, a price-to-earnings ratio of 78.50, a price-to-earnings-growth ratio of 13.53 and a beta of 1.24. Cross Country Healthcare, Inc. has a 52-week low of $6.75 and a 52-week high of $12.75.
Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. Cross Country Healthcare had a negative net margin of 2.54% and a positive return on equity of 1.19%. The firm had revenue of $195.10 million for the quarter, compared to analysts’ expectations of $198.47 million. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, analysts anticipate that Cross Country Healthcare, Inc. will post 0.06 EPS for the current fiscal year.
About Cross Country Healthcare
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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