Is Cross Country Healthcare, Inc. (CCRN) A Good Stock To Buy According To Hedge Funds?

Now, key hedge funds were breaking ground themselves. Simcoe Capital Management, led by Jeffrey Jacobowitz, initiated the most outsized position in Cross Country Healthcare, Inc. (NASDAQ:CCRN). Simcoe Capital Management had $4.2 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.3 million position during the quarter. The other funds with brand new CCRN positions are Mike Vranos’s Ellington and Matthew Tewksbury’s Stevens Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Cross Country Healthcare, Inc. (NASDAQ:CCRN) but similarly valued. We will take a look at Cowen Group, Inc. (NASDAQ:COWN), Guaranty Bancorp (NASDAQ:GBNK), Ascendis Pharma A/S (NASDAQ:ASND), and Overstock.com, Inc. (NASDAQ:OSTK). This group of stocks’ market valuations are closest to CCRN’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
COWN 10 120445 -1
GBNK 10 69502 0
ASND 12 154777 1
OSTK 12 83600 0

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $107 million. That figure was $17 million in CCRN’s case. Ascendis Pharma A/S (NASDAQ:ASND) is the most popular stock in this table. On the other hand Cowen Group, Inc. (NASDAQ:COWN) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Cross Country Healthcare, Inc. (NASDAQ:CCRN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none