Wellington Management Group LLP Decreases Holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Wellington Management Group LLP trimmed its stake in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 21.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,372,044 shares of the business services provider’s stock after selling 376,430 shares during the period. Wellington Management Group LLP owned 3.95% of Cross Country Healthcare worth $31,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its stake in shares of Cross Country Healthcare by 74.3% in the fourth quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after buying an additional 934,841 shares in the last quarter. Pacer Advisors Inc. increased its position in Cross Country Healthcare by 50.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock worth $56,364,000 after purchasing an additional 834,941 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Cross Country Healthcare by 80.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock worth $9,963,000 after purchasing an additional 179,093 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Cross Country Healthcare by 63.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 370,224 shares of the business services provider’s stock worth $9,178,000 after purchasing an additional 144,035 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Cross Country Healthcare by 50.9% during the third quarter. American Century Companies Inc. now owns 366,751 shares of the business services provider’s stock worth $9,092,000 after purchasing an additional 123,667 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Trading Up 0.1 %

Shares of NASDAQ:CCRN opened at $13.97 on Tuesday. The company has a market capitalization of $485.79 million, a PE ratio of 10.75, a P/E/G ratio of 1.98 and a beta of 0.74. Cross Country Healthcare, Inc. has a twelve month low of $13.89 and a twelve month high of $28.75. The firm has a 50 day simple moving average of $15.48 and a 200-day simple moving average of $18.46.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $379.17 million during the quarter, compared to the consensus estimate of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The company’s revenue was down 39.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. As a group, equities research analysts predict that Cross Country Healthcare, Inc. will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

CCRN has been the subject of several recent analyst reports. Barrington Research cut their price objective on shares of Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. TheStreet cut shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Finally, Benchmark dropped their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.83.

Insider Activity

In other news, insider Phillip Lyn Noe sold 9,646 shares of Cross Country Healthcare stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total value of $136,876.74. Following the transaction, the insider now directly owns 10,162 shares of the company’s stock, valued at approximately $144,198.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cross Country Healthcare news, insider Phillip Lyn Noe sold 9,646 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total value of $136,876.74. Following the transaction, the insider now directly owns 10,162 shares of the company’s stock, valued at approximately $144,198.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Krug sold 13,657 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $14.82, for a total transaction of $202,396.74. Following the completion of the transaction, the insider now directly owns 36,020 shares in the company, valued at $533,816.40. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

About Cross Country Healthcare

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.