Cross Country Healthcare (NASDAQ:CCRN) Now Covered by Wedbush

Stock analysts at Wedbush began coverage on shares of Cross Country Healthcare (NASDAQ:CCRN) in a research note issued to investors on Tuesday. The firm set a “neutral” rating and a $11.00 price target on the business services provider’s stock. Wedbush’s price objective points to a potential upside of 19.18% from the company’s previous close.

A number of other research firms have also weighed in on CCRN. Benchmark reissued a “hold” rating on shares of Cross Country Healthcare in a report on Monday, December 8th. Jefferies Financial Group set a $8.65 price objective on shares of Cross Country Healthcare and gave the company a “hold” rating in a report on Thursday, December 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Cross Country Healthcare in a research note on Monday, December 29th. Citizens Jmp raised shares of Cross Country Healthcare from a “market perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a report on Thursday, December 4th. Finally, Truist Financial set a $10.00 price objective on Cross Country Healthcare in a report on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cross Country Healthcare currently has a consensus rating of “Hold” and a consensus price target of $11.32.

Cross Country Healthcare Stock Down 1.0%

Shares of CCRN opened at $9.23 on Tuesday. The company has a 50 day moving average of $8.71 and a 200-day moving average of $11.46. The stock has a market capitalization of $302.37 million, a P/E ratio of -18.84, a P/E/G ratio of 6.21 and a beta of 0.44. Cross Country Healthcare has a twelve month low of $7.43 and a twelve month high of $18.28.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Wednesday, November 12th. The business services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Cross Country Healthcare had a negative net margin of 1.39% and a positive return on equity of 0.95%. The company had revenue of $250.05 million during the quarter, compared to the consensus estimate of $270.72 million. On average, sell-side analysts anticipate that Cross Country Healthcare will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cross Country Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Cross Country Healthcare by 56.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock worth $16,307,000 after purchasing an additional 397,216 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cross Country Healthcare by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 115,823 shares of the business services provider’s stock worth $1,725,000 after buying an additional 8,490 shares in the last quarter. Signaturefd LLC increased its holdings in Cross Country Healthcare by 139.9% in the 2nd quarter. Signaturefd LLC now owns 2,193 shares of the business services provider’s stock valued at $29,000 after buying an additional 1,279 shares during the period. Credit Industriel ET Commercial raised its position in shares of Cross Country Healthcare by 89.9% in the 2nd quarter. Credit Industriel ET Commercial now owns 133,106 shares of the business services provider’s stock valued at $1,737,000 after buying an additional 63,000 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in shares of Cross Country Healthcare during the 2nd quarter worth approximately $386,000. 96.03% of the stock is owned by institutional investors and hedge funds.

About Cross Country Healthcare

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.