Gabelli Funds LLC Has $2.25 Million Position in Cross Country Healthcare, Inc. $CCRN

Gabelli Funds LLC trimmed its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 34.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 239,843 shares of the business services provider’s stock after selling 128,789 shares during the period. Gabelli Funds LLC’s holdings in Cross Country Healthcare were worth $2,255,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Cross Country Healthcare by 56.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock valued at $16,307,000 after acquiring an additional 397,216 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cross Country Healthcare by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 115,823 shares of the business services provider’s stock worth $1,725,000 after purchasing an additional 8,490 shares during the period. Creative Planning bought a new position in Cross Country Healthcare during the second quarter worth about $367,000. JPMorgan Chase & Co. boosted its holdings in Cross Country Healthcare by 90.3% during the second quarter. JPMorgan Chase & Co. now owns 206,438 shares of the business services provider’s stock valued at $2,694,000 after purchasing an additional 97,962 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Cross Country Healthcare by 3.6% during the second quarter. First Trust Advisors LP now owns 99,560 shares of the business services provider’s stock valued at $1,299,000 after purchasing an additional 3,486 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Stock Performance

Shares of Cross Country Healthcare stock opened at $13.25 on Thursday. The stock has a market capitalization of $428.05 million, a price-to-earnings ratio of -4.34, a P/E/G ratio of 14.32 and a beta of 0.45. Cross Country Healthcare, Inc. has a 1-year low of $7.43 and a 1-year high of $14.99. The firm’s 50-day moving average price is $13.18 and its two-hundred day moving average price is $10.91.

Cross Country Healthcare (NASDAQ:CCRN) last posted 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 during the quarter, compared to analyst estimates of $237.06 million. As a group, equities research analysts predict that Cross Country Healthcare, Inc. will post 0.09 EPS for the current year.

Analysts Set New Price Targets

CCRN has been the topic of several analyst reports. Weiss Ratings upgraded Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 16th. Citizens Jmp downgraded Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Citigroup lowered Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. Barrington Research reiterated a “market perform” rating and issued a $13.25 price target on shares of Cross Country Healthcare in a research report on Monday, June 8th. Finally, Truist Financial increased their price objective on Cross Country Healthcare from $10.00 to $13.25 and gave the stock a “hold” rating in a research note on Monday, May 11th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cross Country Healthcare presently has a consensus rating of “Reduce” and a consensus target price of $12.05.

About Cross Country Healthcare

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.