Gabelli Funds LLC Sells 128,789 Shares of Cross Country Healthcare, Inc. $CCRN

Gabelli Funds LLC lessened its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 34.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,843 shares of the business services provider’s stock after selling 128,789 shares during the period. Gabelli Funds LLC owned 0.74% of Cross Country Healthcare worth $2,255,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings 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 valued at $16,307,000 after buying an additional 397,216 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cross Country Healthcare by 7.9% in 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 buying an additional 8,490 shares during the last quarter. Creative Planning bought a new stake in shares of Cross Country Healthcare during the 2nd quarter worth about $367,000. JPMorgan Chase & Co. boosted its stake in shares of Cross Country Healthcare by 90.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 206,438 shares of the business services provider’s stock worth $2,694,000 after acquiring an additional 97,962 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Cross Country Healthcare by 3.6% during the 2nd quarter. First Trust Advisors LP now owns 99,560 shares of the business services provider’s stock valued at $1,299,000 after acquiring an additional 3,486 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CCRN shares. Benchmark downgraded Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, May 8th. Citigroup cut Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Wedbush downgraded Cross Country Healthcare from an “outperform” rating to a “hold” rating and lowered their price target for the company from $15.00 to $13.25 in a report on Thursday, May 7th. Barrington Research reissued 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, Weiss Ratings upgraded shares of Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 16th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cross Country Healthcare presently has an average rating of “Reduce” and a consensus price target of $12.05.

Cross Country Healthcare Stock Performance

NASDAQ:CCRN opened at $13.25 on Thursday. The firm’s 50-day moving average is $13.18 and its 200-day moving average is $10.91. Cross Country Healthcare, Inc. has a 52-week low of $7.43 and a 52-week high of $14.99. The company has a market cap of $428.05 million, a price-to-earnings ratio of -4.34, a PEG ratio of 14.32 and a beta of 0.45.

Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%.The business had revenue of $241.06 million for the quarter, compared to the consensus estimate of $237.06 million. Equities analysts predict that Cross Country Healthcare, Inc. will post 0.09 EPS for the current year.

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.