Pinnacle Associates Ltd. Acquires Shares of 88,484 Cross Country Healthcare, Inc. $CCRN

Pinnacle Associates Ltd. acquired a new stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 88,484 shares of the business services provider’s stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alliancebernstein L.P. grew its stake in shares of Cross Country Healthcare by 4.0% during the second quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock worth $31,820,000 after buying an additional 94,798 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cross Country Healthcare by 56.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock worth $16,307,000 after buying an additional 397,216 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Cross Country Healthcare by 20.1% during the third quarter. Qube Research & Technologies Ltd now owns 718,793 shares of the business services provider’s stock worth $10,207,000 after buying an additional 120,546 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Cross Country Healthcare by 4.3% during the third quarter. Dana Investment Advisors Inc. now owns 589,096 shares of the business services provider’s stock worth $8,365,000 after buying an additional 24,099 shares during the last quarter. Finally, Man Group plc grew its stake in shares of Cross Country Healthcare by 210.5% during the third quarter. Man Group plc now owns 328,452 shares of the business services provider’s stock worth $4,664,000 after buying an additional 222,676 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock opened at $13.13 on Monday. Cross Country Healthcare, Inc. has a twelve month low of $7.43 and a twelve month high of $14.99. The stock has a market cap of $424.49 million, a price-to-earnings ratio of -4.30, a P/E/G ratio of 13.47 and a beta of 0.35. The company’s fifty day moving average is $10.20 and its 200 day moving average is $9.67.

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

Analysts Set New Price Targets

CCRN has been the topic of a number of research reports. Benchmark cut shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, May 8th. Truist Financial boosted their target price on shares of Cross Country Healthcare from $10.00 to $13.25 and gave the stock a “hold” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cross Country Healthcare in a research note on Friday, March 27th. Citigroup cut shares of Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. Finally, Cross Research set a $14.00 target price on shares of Cross Country Healthcare in a research note on Thursday, March 5th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cross Country Healthcare has a consensus rating of “Reduce” and an average target price of $12.72.

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.