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

Pinnacle Associates Ltd. boosted its position in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 342,315 shares of the business services provider's stock after acquiring an additional 44,496 shares during the quarter. Pinnacle Associates Ltd. owned 0.98% of Cross Country Healthcare worth $4,601,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CCRN. Pacer Advisors Inc. increased its position in shares of Cross Country Healthcare by 3.8% during the 2nd quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider's stock valued at $62,984,000 after purchasing an additional 165,032 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Cross Country Healthcare by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,360,016 shares of the business services provider's stock valued at $32,662,000 after buying an additional 24,363 shares during the last quarter. American Century Companies Inc. increased its holdings in Cross Country Healthcare by 15.9% during the second quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider's stock valued at $10,696,000 after buying an additional 106,226 shares during the last quarter. Dana Investment Advisors Inc. raised its position in Cross Country Healthcare by 34.7% in the second quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider's stock worth $5,596,000 after acquiring an additional 104,136 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Cross Country Healthcare by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 322,483 shares of the business services provider's stock worth $4,463,000 after acquiring an additional 92,011 shares during the last quarter. Institutional investors own 96.03% of the company's stock.

Cross Country Healthcare Stock Down 0.7 %

NASDAQ:CCRN traded down $0.08 on Friday, reaching $11.33. 462,393 shares of the company's stock traded hands, compared to its average volume of 523,624. The firm has a market cap of $383.07 million, a PE ratio of 49.61, a P/E/G ratio of 2.27 and a beta of 0.63. The stock has a 50-day simple moving average of $13.36 and a 200-day simple moving average of $14.59. Cross Country Healthcare, Inc. has a 12 month low of $11.24 and a 12 month high of $23.64.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The business had revenue of $339.77 million during the quarter, compared to analysts' expectations of $334.75 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm's revenue for the quarter was down 37.2% on a year-over-year basis. On average, equities analysts anticipate that Cross Country Healthcare, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on CCRN. Barrington Research decreased their target price on Cross Country Healthcare from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Truist Financial lowered their price objective on Cross Country Healthcare from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.20.

Cross Country Healthcare Company Profile

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.