Wasatch Global Investors, an investment management firm, released its “Wasatch Micro Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark during the quarter. The quality-oriented positioning was the main reason for the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Wasatch Micro Cap Value Strategy highlighted stocks like Cross Country Healthcare, Inc. (NASDAQ:CCRN) in the third 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 December 22, 2023, Cross Country Healthcare, Inc. (NASDAQ:CCRN) stock closed at $22.61 per share. One-month return of Cross Country Healthcare, Inc. (NASDAQ:CCRN) was 8.18%, and its shares lost 17.09% of their value over the last 52 weeks. Cross Country Healthcare, Inc. (NASDAQ:CCRN) has a market capitalization of $794.76 million.
Wasatch Micro Cap Value Strategy made the following comment about Cross Country Healthcare, Inc. (NASDAQ:CCRN) in its Q3 2023 investor letter:
“Cross Country Healthcare, Inc. (NASDAQ:CCRN) was another addition. The company offers traveling and per diem nurses, radiology technicians, rehabilitation therapists and staff for clinical research trials. We think the stock is priced inexpensively because other investors expect to see less of a need for traveling nurses. Our view is that the shortage of hospital-employed nurses is more structural, which plays to Cross Country’s advantage. Additionally, the company is well-managed, generates strong cash flows and has little debt.”
A nurse in uniform, with a patient, representing the commitment to nursing and allied staffing.
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 third quarter which was 18 in the previous quarter.
We discussed Cross Country Healthcare, Inc. (NASDAQ:CCRN) in another article and shared the list of best healthcare stocks for the long term. In addition, please check out our hedge fund investor letters Q3 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.