Royal Bank of Canada Increases Position in Cross Country Healthcare, Inc. (CCRN)

Royal Bank of Canada lifted its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 24.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 708,646 shares of the business services provider’s stock after purchasing an additional 137,788 shares during the period. Royal Bank of Canada owned approximately 1.94% of Cross Country Healthcare worth $9,148,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CCRN. Bank of New York Mellon Corp grew its holdings in shares of Cross Country Healthcare by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 527,672 shares of the business services provider’s stock valued at $7,577,000 after purchasing an additional 20,405 shares in the last quarter. Comerica Bank grew its holdings in shares of Cross Country Healthcare by 3.8% in the first quarter. Comerica Bank now owns 36,368 shares of the business services provider’s stock valued at $536,000 after purchasing an additional 1,327 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Cross Country Healthcare by 20.5% in the first quarter. Ameriprise Financial Inc. now owns 207,429 shares of the business services provider’s stock valued at $2,979,000 after purchasing an additional 35,230 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Cross Country Healthcare by 6.0% in the first quarter. Parametric Portfolio Associates LLC now owns 44,520 shares of the business services provider’s stock valued at $639,000 after purchasing an additional 2,525 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in shares of Cross Country Healthcare by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 30,395 shares of the business services provider’s stock valued at $436,000 after purchasing an additional 4,587 shares in the last quarter. Hedge funds and other institutional investors own 95.60% of the company’s stock.

A number of research analysts recently weighed in on CCRN shares. Zacks Investment Research upgraded shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut shares of Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Benchmark Co. dropped their price objective on shares of Cross Country Healthcare from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Finally, TheStreet upgraded shares of Cross Country Healthcare from a “c+” rating to a “b” rating in a report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.64.

In other news, insider William J. Grubbs sold 49,113 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $12.16, for a total transaction of $597,214.08. Following the completion of the sale, the insider now owns 395,188 shares of the company’s stock, valued at $4,805,486.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is currently owned by company insiders.

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Shares of Cross Country Healthcare, Inc. (CCRN) opened at 13.33 on Wednesday. Cross Country Healthcare, Inc. has a 12 month low of $10.88 and a 12 month high of $16.38. The stock has a market cap of $486.47 million, a P/E ratio of 49.19 and a beta of 0.84. The stock’s 50 day moving average is $13.14 and its 200 day moving average is $12.81.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. Cross Country Healthcare had a net margin of 1.06% and a return on equity of 12.78%. The business had revenue of $209.31 million during the quarter, compared to the consensus estimate of $209.92 million. During the same quarter last year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts predict that Cross Country Healthcare, Inc. will post $0.61 earnings per share for the current fiscal year.

About Cross Country Healthcare

Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.

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Institutional Ownership by Quarter for Cross Country Healthcare (NASDAQ:CCRN)

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