Pinnacle Associates Ltd. Boosts Stock Position in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Pinnacle Associates Ltd. grew its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 14.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 342,315 shares of the business services provider’s stock after acquiring an additional 44,496 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Cross Country Healthcare were worth $4,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CCRN. Inspire Advisors LLC purchased a new stake in Cross Country Healthcare during the third quarter worth about $304,000. Wedge Capital Management L L P NC increased its stake in shares of Cross Country Healthcare by 10.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 94,179 shares of the business services provider’s stock worth $1,266,000 after purchasing an additional 8,848 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Cross Country Healthcare by 32.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,543 shares of the business services provider’s stock worth $101,000 after purchasing an additional 1,865 shares during the period. SG Americas Securities LLC purchased a new position in Cross Country Healthcare in the third quarter valued at approximately $135,000. Finally, Dana Investment Advisors Inc. grew its holdings in Cross Country Healthcare by 34.7% during the second quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider’s stock valued at $5,596,000 after purchasing an additional 104,136 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CCRN. Truist Financial lowered their target price on Cross Country Healthcare from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. Barrington Research dropped their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.20.

Cross Country Healthcare Stock Performance

Shares of NASDAQ CCRN opened at $11.41 on Friday. The stock has a fifty day moving average of $13.43 and a 200-day moving average of $14.61. The stock has a market cap of $385.76 million, a PE ratio of 49.61, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63. Cross Country Healthcare, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $23.64.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $339.77 million for the quarter, compared to the consensus estimate of $334.75 million. Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The company’s quarterly revenue was down 37.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share. On average, sell-side analysts predict that Cross Country Healthcare, Inc. will post 0.52 EPS for the current year.

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.