Alpine Associates Management Inc. Decreases Stock Holdings in Cross Country Healthcare, Inc. $CCRN

Alpine Associates Management Inc. trimmed its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 21.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 770,029 shares of the business services provider’s stock after selling 215,654 shares during the quarter. Alpine Associates Management Inc. owned approximately 2.35% of Cross Country Healthcare worth $10,934,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CCRN. New York Life Investment Management LLC grew its holdings in shares of Cross Country Healthcare by 20.8% in the third quarter. New York Life Investment Management LLC now owns 55,184 shares of the business services provider’s stock valued at $784,000 after purchasing an additional 9,502 shares in the last quarter. Carlson Capital L.P. boosted its position in Cross Country Healthcare by 9.4% during the third quarter. Carlson Capital L.P. now owns 109,389 shares of the business services provider’s stock valued at $1,553,000 after purchasing an additional 9,389 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Cross Country Healthcare by 135.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 69,678 shares of the business services provider’s stock valued at $989,000 after buying an additional 40,084 shares in the last quarter. State of Wyoming purchased a new stake in Cross Country Healthcare during the third quarter valued at approximately $585,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Cross Country Healthcare by 44.1% during the 3rd quarter. Principal Financial Group Inc. now owns 32,959 shares of the business services provider’s stock valued at $468,000 after purchasing an additional 10,092 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock opened at $8.27 on Thursday. The stock has a market capitalization of $270.93 million, a price-to-earnings ratio of -16.88, a price-to-earnings-growth ratio of 6.18 and a beta of 0.45. The business has a 50-day moving average of $8.48 and a 200 day moving average of $11.24. Cross Country Healthcare, Inc. has a 12 month low of $7.43 and a 12 month high of $18.28.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results 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). The business had revenue of $250.05 million for the quarter, compared to analyst estimates of $270.72 million. Cross Country Healthcare had a positive return on equity of 0.95% and a negative net margin of 1.39%. Equities research analysts anticipate that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wedbush began coverage on shares of Cross Country Healthcare in a report on Tuesday, February 3rd. They set a “neutral” rating and a $11.00 price objective on the stock. Truist Financial set a $10.00 target price on Cross Country Healthcare in a research report on Tuesday, December 16th. UBS Group cut their price target on shares of Cross Country Healthcare from $16.50 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, December 9th. JMP Securities set a $11.00 target price on Cross Country Healthcare in a research report on Thursday, December 4th. Finally, Citigroup restated a “market outperform” rating on shares of Cross Country Healthcare in a research report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cross Country Healthcare presently has a consensus rating of “Hold” and a consensus price target of $11.32.

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.