Envestnet Asset Management Inc. Invests $201,000 in Cross Country Healthcare, Inc. $CCRN

Envestnet Asset Management Inc. purchased a new stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 15,419 shares of the business services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CCRN. Magnetar Financial LLC boosted its stake in Cross Country Healthcare by 8.5% in the 1st quarter. Magnetar Financial LLC now owns 2,474,331 shares of the business services provider’s stock worth $36,843,000 after purchasing an additional 193,418 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Cross Country Healthcare by 82.4% in the first quarter. Alliancebernstein L.P. now owns 2,343,484 shares of the business services provider’s stock worth $34,894,000 after buying an additional 1,058,544 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in 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 period. Hsbc Holdings PLC grew its stake in shares of Cross Country Healthcare by 91.8% during the first quarter. Hsbc Holdings PLC now owns 793,258 shares of the business services provider’s stock valued at $11,859,000 after buying an additional 379,683 shares during the last quarter. Finally, AQR Arbitrage LLC grew its position in Cross Country Healthcare by 28.8% in the 1st quarter. AQR Arbitrage LLC now owns 769,552 shares of the business services provider’s stock valued at $11,459,000 after acquiring an additional 172,017 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Trading Down 3.1%

CCRN stock opened at $10.34 on Friday. The stock has a market cap of $338.71 million, a price-to-earnings ratio of -39.77, a PEG ratio of 8.87 and a beta of 0.45. The business’s 50-day moving average is $12.43 and its 200 day moving average is $12.98. Cross Country Healthcare, Inc. has a 12-month low of $10.14 and a 12-month high of $18.33.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Wednesday, November 12th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Cross Country Healthcare had a negative net margin of 0.70% and a positive return on equity of 1.72%. The business had revenue of $250.05 million for the quarter, compared to analysts’ expectations of $270.72 million. As a group, equities analysts forecast that Cross Country Healthcare, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CCRN shares. Benchmark reissued a “hold” rating on shares of Cross Country Healthcare in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cross Country Healthcare in a report on Tuesday. Finally, Wall Street Zen upgraded Cross Country Healthcare to a “hold” rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $17.91.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company’s Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.