Cross Country Healthcare (NASDAQ:CCRN) Price Target Cut to $19.00

Cross Country Healthcare (NASDAQ:CCRN) had its price objective reduced by Benchmark from $21.00 to $19.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other research firms also recently commented on CCRN. Truist Financial lowered their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a hold rating on the stock in a report on Thursday, February 22nd. Barrington Research reduced their price target on shares of Cross Country Healthcare from $26.00 to $24.00 and set an outperform rating on the stock in a research report on Tuesday, February 27th. Finally, TheStreet cut shares of Cross Country Healthcare from a b- rating to a c+ rating in a research report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $21.33.

Cross Country Healthcare Price Performance

Shares of NASDAQ:CCRN opened at $16.67 on Thursday. Cross Country Healthcare has a 1-year low of $15.65 and a 1-year high of $28.75. The firm’s 50 day simple moving average is $17.92 and its two-hundred day simple moving average is $19.99. The company has a market capitalization of $578.12 million, a P/E ratio of 12.82, a P/E/G ratio of 1.85 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The firm had revenue of $379.17 million for the quarter, compared to the consensus estimate of $374.38 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was down 39.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Cross Country Healthcare will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Cross Country Healthcare

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the transaction, the insider now owns 35,101 shares in the company, valued at $594,961.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Gladius Capital Management LP grew its holdings in shares of Cross Country Healthcare by 37.1% in the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Cross Country Healthcare by 2.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,927 shares of the business services provider’s stock worth $610,000 after purchasing an additional 520 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Cross Country Healthcare in the fourth quarter worth about $28,000. SG Americas Securities LLC grew its holdings in shares of Cross Country Healthcare by 8.2% in the fourth quarter. SG Americas Securities LLC now owns 19,754 shares of the business services provider’s stock worth $447,000 after purchasing an additional 1,493 shares during the last quarter. Finally, Truvestments Capital LLC grew its holdings in shares of Cross Country Healthcare by 26.1% in the third quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock worth $241,000 after purchasing an additional 2,013 shares during the last quarter. Institutional investors 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.