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
