SCHEDULE: Magnetar Funds Reduce Cross Country Healthcare Stake Below 5%

Magnetar Financial and affiliated entities have reduced their beneficial ownership in Cross Country Healthcare, Inc. to 4.98% after selling 183,678 shares.

Summary

• Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman (collectively, the "Reporting Persons") have filed an Amendment No. 3 to their Schedule 13D.
• The Reporting Persons sold a total of 183,678 shares of Cross Country Healthcare, Inc. common stock on December 8, 2025.
• The shares were sold for the benefit of various funds: 113,242 shares for PRA Master Fund, 48,351 shares for Systematic Master Fund, 10,777 shares for Relative Value Master Fund, and 11,308 shares for two Managed Accounts.
• The aggregate value of the shares sold was $1,476,097.58, excluding commissions and other execution-related costs.
• As of the close of business on December 8, 2025, the Reporting Persons beneficially owned 1,631,864 shares, representing approximately 4.98% of the issuer's common stock.
• This transaction resulted in the Reporting Persons ceasing to be beneficial owners of more than five percent of Cross Country Healthcare, Inc. shares.

Sentiment

Score: 4

Explanation: The sentiment is mildly negative as a significant institutional investor has reduced its stake below the 5% threshold, which can sometimes be interpreted by the market as a loss of confidence or a strategic divestment, although the filing itself is purely factual.

Negatives

• The Reporting Persons reduced their beneficial ownership in Cross Country Healthcare, Inc. by selling 183,678 shares.
• The sale caused the Reporting Persons' aggregate beneficial ownership to fall below the 5% threshold, from which they previously reported.

Future Outlook

The Reporting Persons reserve the right to acquire or dispose of additional securities of the Company in the open market, in privately negotiated transactions, or otherwise, and to change their intentions regarding their holdings.

Industry Context

This filing reflects a change in an institutional investor's stake in a healthcare staffing company. Such changes can be influenced by broader market conditions, specific company performance, or portfolio rebalancing strategies within the healthcare sector.

Stakeholder Impact

• Shareholders: The reduction in a significant institutional investor's stake could lead to increased market scrutiny or a perception of reduced institutional confidence, potentially impacting share price.
• Company Management: May need to consider the implications of a major investor reducing their position, especially if it signals a broader trend.

Next Steps

• The Reporting Persons may acquire or dispose of additional securities of Cross Country Healthcare, Inc. in the future.

Key Dates

Keywords

Cross Country Healthcare, Magnetar Financial, Schedule 13D/A, Share Sale, Beneficial Ownership, Institutional Investor, Healthcare Staffing