Alpine Associates Management Inc. Reduces Stock Position in Cross Country Healthcare, Inc. $CCRN

Alpine Associates Management Inc. cut its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 21.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 985,683 shares of the business services provider’s stock after selling 266,841 shares during the quarter. Alpine Associates Management Inc. owned 3.01% of Cross Country Healthcare worth $12,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New York Life Investment Management LLC boosted its holdings in Cross Country Healthcare by 7.8% in the second quarter. New York Life Investment Management LLC now owns 45,682 shares of the business services provider’s stock valued at $596,000 after purchasing an additional 3,291 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Cross Country Healthcare during the second quarter worth about $964,000. Envestnet Asset Management Inc. purchased a new position in Cross Country Healthcare during the second quarter valued at approximately $201,000. AlphaQuest LLC lifted its holdings in Cross Country Healthcare by 302.3% in the second quarter. AlphaQuest LLC now owns 33,382 shares of the business services provider’s stock valued at $436,000 after acquiring an additional 25,085 shares during the period. Finally, Easterly Investment Partners LLC purchased a new stake in Cross Country Healthcare in the 2nd quarter worth approximately $849,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CCRN has been the subject of several recent research reports. Wall Street Zen raised shares of Cross Country Healthcare to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Cross Country Healthcare in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $17.93.

Cross Country Healthcare Stock Up 1.3%

Shares of CCRN opened at $12.26 on Monday. The company has a market capitalization of $401.64 million, a PE ratio of -47.15, a price-to-earnings-growth ratio of 8.87 and a beta of 0.39. The stock has a fifty day simple moving average of $13.13 and a two-hundred day simple moving average of $13.28. Cross Country Healthcare, Inc. has a 52-week low of $9.58 and a 52-week high of $18.33.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The firm had revenue of $274.07 million during the quarter, compared to analyst estimates of $292.67 million. Cross Country Healthcare had a negative net margin of 0.70% and a positive return on equity of 1.72%. As a group, equities analysts anticipate that Cross Country Healthcare, Inc. will post 0.53 earnings per share for the current fiscal year.

Cross Country Healthcare 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.