GABELLI & Co INVESTMENT ADVISERS INC. Sells 70,050 Shares of Cross Country Healthcare, Inc. $CCRN

GABELLI & Co INVESTMENT ADVISERS INC. lowered its position in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 47.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,650 shares of the business services provider’s stock after selling 70,050 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Cross Country Healthcare were worth $730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCRN. Alliancebernstein L.P. lifted its stake in Cross Country Healthcare by 4.0% in the second quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock valued at $31,820,000 after acquiring an additional 94,798 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Cross Country Healthcare by 56.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock worth $16,307,000 after purchasing an additional 397,216 shares during the last quarter. Quinn Opportunity Partners LLC acquired a new position in shares of Cross Country Healthcare during the 4th quarter worth $8,470,000. Dana Investment Advisors Inc. raised its holdings in shares of Cross Country Healthcare by 71.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,008,525 shares of the business services provider’s stock valued at $8,169,000 after purchasing an additional 419,429 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cross Country Healthcare by 28.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,458 shares of the business services provider’s stock valued at $7,853,000 after purchasing an additional 211,925 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

CCRN has been the subject of a number of recent research reports. Citizens Jmp cut shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Barrington Research restated a “market perform” rating and set a $13.25 target price on shares of Cross Country Healthcare in a report on Monday, June 8th. Citigroup cut Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Benchmark downgraded Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Truist Financial upped their price target on Cross Country Healthcare from $10.00 to $13.25 and gave the stock a “hold” rating in a research note on Monday, May 11th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $12.05.

Cross Country Healthcare Stock Performance

Shares of Cross Country Healthcare stock opened at $13.25 on Friday. The firm has a fifty day simple moving average of $13.17 and a 200-day simple moving average of $10.79. The stock has a market capitalization 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 1-year low of $7.43 and a 1-year high of $14.99.

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