Cross Country Healthcare, Inc. $CCRN Position Reduced by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. trimmed its position in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 47.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,650 shares of the business services provider’s stock after selling 70,050 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.24% of Cross Country Healthcare worth $730,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its position in shares of Cross Country Healthcare by 1,542.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 48,849 shares of the business services provider’s stock valued at $459,000 after acquiring an additional 45,874 shares in the last quarter. Sei Investments Co. grew its position in Cross Country Healthcare by 7.8% during the 1st quarter. Sei Investments Co. now owns 121,773 shares of the business services provider’s stock worth $1,145,000 after purchasing an additional 8,780 shares in the last quarter. Walleye Capital LLC grew its position in Cross Country Healthcare by 98.3% during the 1st quarter. Walleye Capital LLC now owns 503,034 shares of the business services provider’s stock worth $4,729,000 after purchasing an additional 249,356 shares in the last quarter. State of Wyoming acquired a new stake in Cross Country Healthcare during the 1st quarter valued at $492,000. Finally, Bank of New York Mellon Corp raised its stake in Cross Country Healthcare by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 114,491 shares of the business services provider’s stock valued at $1,076,000 after purchasing an additional 1,404 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Price Performance

CCRN stock opened at $13.25 on Friday. The company has a 50 day moving average of $13.17 and a two-hundred day moving average of $10.79. 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, Inc. has a 12-month low of $7.43 and a 12-month high of $14.99.

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

Analysts Set New Price Targets

CCRN has been the subject of several recent analyst reports. Benchmark cut Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, May 8th. Citizens Jmp lowered Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Wedbush downgraded Cross Country Healthcare from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $13.25 in a research note on Thursday, May 7th. Truist Financial raised their price objective on Cross Country Healthcare from $10.00 to $13.25 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, Citigroup cut Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $12.05.

Cross Country Healthcare Company 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.