Long Cast Advisers, LLC, a small-cap-focused investment manager, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. The cumulative net returns of the fund for Q2 2023 were flat and year-to-date the fund’s return was 11%. The fund has returned a cumulative 166% net of fees, or 14% CAGR since inception in November 2015 through quarter end 2Q23. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Long Cast Advisers highlighted stocks like Cross Country Healthcare, Inc. (NASDAQ:CCRN) in the second quarter 2023 investor letter. Headquartered in Boca Raton, Florida, Cross Country Healthcare, Inc. (NASDAQ:CCRN) provides talent management services for healthcare clients that operates through Nurse and Allied Staffing, and Physician Staffing. On September 28, 2023, Cross Country Healthcare, Inc. (NASDAQ:CCRN) stock closed at $25.33 per share. One-month return of Cross Country Healthcare, Inc. (NASDAQ:CCRN) was 2.05%, and its shares lost 10.72% of their value over the last 52 weeks. Cross Country Healthcare, Inc. (NASDAQ:CCRN) has a market capitalization of $906.88 million.
Long Cast Advisers made the following comment about Cross Country Healthcare, Inc. (NASDAQ:CCRN) in its Q2 2023 investor letter:
“No new ideas have been added to the portfolio (I say “no” alot) but I continue to try to re-allocate from lower to higher IRR opportunities. In this regard, in the 2Q23 quarter we exited Cross Country Healthcare, Inc. (NASDAQ:CCRN) and continued to add to MAMA, MTRX and RSSS. CCRN, the nurse staffing company that went from EBITDA of $20M / year to $95M / quarter at peak COVID, is experiencing negative y/y comparisons for the foreseeable future; when the declines get “less worse” I think it will be worth revisiting.”
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Cross Country Healthcare, Inc. (NASDAQ:CCRN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Cross Country Healthcare, Inc. (NASDAQ:CCRN) at the end of second quarter which was 19 in the previous quarter.
We discussed Cross Country Healthcare, Inc. (NASDAQ:CCRN) in another article and shared the list of stocks that will 10x in five years. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
