Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $20.83.

Several brokerages recently weighed in on CCRN. TheStreet cut Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Benchmark reduced their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Truist Financial cut their price objective on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Finally, Barrington Research decreased their target price on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday.

Cross Country Healthcare Trading Down 3.9 %

Shares of NASDAQ:CCRN opened at $16.02 on Tuesday. The firm’s 50 day moving average is $17.90 and its two-hundred day moving average is $19.95. The firm has a market capitalization of $557.02 million, a P/E ratio of 12.32, a PEG ratio of 2.17 and a beta of 0.77. Cross Country Healthcare has a 52 week low of $15.65 and a 52 week high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $379.17 million for the quarter, compared to analysts’ expectations of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The company’s revenue was down 39.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. Analysts predict that Cross Country Healthcare will post 0.77 EPS for the current year.

Insider Buying and Selling at Cross Country Healthcare

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.95, for a total value of $105,361.20. Following the transaction, the insider now directly owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. increased its stake in shares of Cross Country Healthcare by 50.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock worth $56,364,000 after purchasing an additional 834,941 shares during the period. Dimensional Fund Advisors LP increased its stake in Cross Country Healthcare by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,256,832 shares of the business services provider’s stock valued at $51,095,000 after acquiring an additional 76,954 shares during the period. Wasatch Advisors LP raised its position in Cross Country Healthcare by 74.3% in the fourth quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after purchasing an additional 934,841 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Cross Country Healthcare by 3.6% during the third quarter. Principal Financial Group Inc. now owns 1,966,251 shares of the business services provider’s stock valued at $48,743,000 after purchasing an additional 69,013 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Cross Country Healthcare by 0.3% in the 3rd quarter. Deutsche Bank AG now owns 717,762 shares of the business services provider’s stock valued at $17,793,000 after purchasing an additional 2,026 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.