Trexquant Investment LP bought a new stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 56,826 shares of the business services provider’s stock, valued at approximately $631,000. Trexquant Investment LP owned approximately 0.16% of Cross Country Healthcare at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Cross Country Healthcare during the 4th quarter valued at about $156,000. Teacher Retirement System of Texas bought a new stake in shares of Cross Country Healthcare during the 4th quarter valued at about $162,000. MetLife Investment Advisors LLC bought a new stake in shares of Cross Country Healthcare during the 4th quarter valued at about $210,000. Stone Ridge Asset Management LLC bought a new stake in shares of Cross Country Healthcare during the 4th quarter valued at about $690,000. Finally, Arizona State Retirement System boosted its stake in shares of Cross Country Healthcare by 223.5% during the 4th quarter. Arizona State Retirement System now owns 61,315 shares of the business services provider’s stock valued at $782,000 after purchasing an additional 42,361 shares in the last quarter. 91.93% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:CCRN opened at $12.12 on Friday. Cross Country Healthcare, Inc. has a one year low of $9.07 and a one year high of $14.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a market cap of $440.80 million, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.21 and a beta of 0.91.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. Cross Country Healthcare had a net margin of 4.74% and a return on equity of 9.99%. The business had revenue of $210.30 million for the quarter, compared to analyst estimates of $206.75 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Cross Country Healthcare’s quarterly revenue was up 1.3% on a year-over-year basis. research analysts anticipate that Cross Country Healthcare, Inc. will post 0.49 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Lake Street Capital lowered shares of Cross Country Healthcare from a “buy” rating to a “hold” rating and cut their target price for the company from $16.00 to $11.00 in a research note on Thursday, May 3rd. ValuEngine lowered shares of Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 3rd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $11.00 target price on shares of Cross Country Healthcare in a research note on Monday, May 7th. Zacks Investment Research raised shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Finally, TheStreet lowered shares of Cross Country Healthcare from a “b” rating to a “c+” rating in a research note on Monday, April 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Cross Country Healthcare currently has an average rating of “Hold” and an average target price of $13.89.
In other news, Director W Larry Cash bought 5,000 shares of the firm’s stock in a transaction on Monday, May 7th. The stock was acquired at an average cost of $11.14 per share, with a total value of $55,700.00. Following the completion of the acquisition, the director now owns 118,580 shares of the company’s stock, valued at $1,320,981.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William J. Grubbs bought 10,000 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was purchased at an average cost of $11.18 per share, with a total value of $111,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 353,741 shares of the company’s stock, valued at approximately $3,954,824.38. The disclosure for this purchase can be found here. Insiders have purchased 22,500 shares of company stock worth $253,450 in the last three months. 3.40% of the stock is currently owned by insiders.
Cross Country Healthcare Company 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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