Wedge Capital Management L L P NC purchased a new stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 126,492 shares of the business services provider’s stock, valued at approximately $1,303,000. Wedge Capital Management L L P NC owned about 0.34% of Cross Country Healthcare at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new stake in shares of Cross Country Healthcare during the second quarter valued at approximately $119,000. Magnus Financial Group LLC raised its holdings in shares of Cross Country Healthcare by 20.2% during the second quarter. Magnus Financial Group LLC now owns 13,580 shares of the business services provider’s stock valued at $127,000 after buying an additional 2,278 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Cross Country Healthcare during the second quarter valued at approximately $276,000. Pitcairn Co. raised its holdings in shares of Cross Country Healthcare by 7.5% during the second quarter. Pitcairn Co. now owns 31,033 shares of the business services provider’s stock valued at $291,000 after buying an additional 2,165 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Cross Country Healthcare by 126.4% during the third quarter. State of Alaska Department of Revenue now owns 28,339 shares of the business services provider’s stock valued at $291,000 after acquiring an additional 15,824 shares during the period. 93.15% of the stock is currently owned by institutional investors.
Shares of NASDAQ CCRN traded up $0.17 during mid-day trading on Friday, reaching $12.60. 1,312 shares of the company traded hands, compared to its average volume of 152,071. Cross Country Healthcare, Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $12.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market cap of $418.70 million, a PE ratio of 104.00, a price-to-earnings-growth ratio of 14.17 and a beta of 1.28. The stock has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $9.22.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The firm had revenue of $209.20 million for the quarter, compared to analyst estimates of $202.60 million. Cross Country Healthcare had a negative net margin of 9.44% and a positive return on equity of 1.24%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 earnings per share. As a group, analysts predict that Cross Country Healthcare, Inc. will post 0.09 EPS for the current fiscal year.
A number of research analysts recently commented on CCRN shares. BMO Capital Markets raised their price objective on shares of Cross Country Healthcare from $10.00 to $12.00 and gave the company a “market perform” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Cross Country Healthcare from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, October 1st. ValuEngine lowered shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub upgraded shares of Cross Country Healthcare from a “hold” rating to a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $11.33.
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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