Todays Report: The Virginia Retirement Systems ET AL Acquires Shares of 13,000 Cross Country Healthcare Inc. (CCRN)

The Virginia Retirement Systems ET AL Acquires Shares of 13,000 Cross Country Healthcare Inc. (CCRN)

Virginia Retirement Systems ET AL bought a new stake in Cross Country Healthcare Inc. (NASDAQ:CCRN) during the second quarter, according to its most recent filing with the SEC. The firm bought 13,000 shares of the company’s stock, valued at approximately $181,000.

A number of other hedge funds also recently made changes to their positions in CCRN. Wellington Management Group LLP boosted its position in shares of Cross Country Healthcare by 528.5% in the first quarter. Wellington Management Group LLP now owns 2,816,921 shares of the company’s stock valued at $32,760,000 after buying an additional 2,368,747 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in Cross Country Healthcare during the second quarter valued at $10,195,000. Bank of Montreal Can purchased a new position in Cross Country Healthcare during the second quarter valued at $5,777,000. Emerald Acquisition Ltd. purchased a new position in Cross Country Healthcare during the second quarter valued at $4,880,000. Finally, Skyline Asset Management LP boosted its position in Cross Country Healthcare by 18.2% in the first quarter. Skyline Asset Management LP now owns 1,711,289 shares of the company’s stock valued at $19,902,000 after buying an additional 263,400 shares in the last quarter. Hedge funds and other institutional investors own 96.46% of the company’s stock.

Cross Country Healthcare Inc. (NASDAQ:CCRN) opened at 12.22 on Thursday. The company’s market capitalization is $403.06 million. The firm’s 50-day moving average is $12.07 and its 200-day moving average is $13.09. Cross Country Healthcare Inc. has a 52-week low of $9.72 and a 52-week high of $18.76.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, August 3rd. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Cross Country Healthcare had a return on equity of 25.27% and a net margin of 0.09%. The company had revenue of $199.40 million for the quarter, compared to analyst estimates of $203.56 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Cross Country Healthcare’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Cross Country Healthcare Inc. will post $0.62 EPS for the current year.

Several research firms recently weighed in on CCRN. Cantor Fitzgerald reissued a “buy” rating on shares of Cross Country Healthcare in a research note on Sunday, July 17th. Zacks Investment Research cut shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 price objective on shares of Cross Country Healthcare in a research report on Friday, August 5th. Finally, TheStreet cut shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Cross Country Healthcare has an average rating of “Hold” and a consensus price target of $16.33.

In related news, Director Thomas C. Dircks purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was acquired at an average cost of $10.75 per share, with a total value of $107,500.00. Following the transaction, the director now owns 95,264 shares of the company’s stock, valued at approximately $1,024,088. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Larry Cash purchased 3,000 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was bought at an average cost of $12.22 per share, with a total value of $36,660.00. Following the completion of the transaction, the director now directly owns 99,253 shares in the company, valued at approximately $1,212,871.66. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

About Cross Country Healthcare

Cross Country Healthcare, Inc (CCRN) is engaged in providing healthcare recruiting, staffing and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. Its nurse and allied staffing segment is engaged in providing traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing through its Cross Country Staffing brand, MSN, AHG, Mediscan and DirectEd brands.

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