Everence Capital Management Inc. Makes New Investment in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Everence Capital Management Inc. bought a new position in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) in the fourth quarter, Holdings Channel.com reports. The firm bought 11,090 shares of the business services provider’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blair William & Co. IL bought a new position in shares of Cross Country Healthcare in the third quarter valued at approximately $2,550,000. Jacobs Levy Equity Management Inc. raised its stake in Cross Country Healthcare by 63.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 370,224 shares of the business services provider’s stock valued at $9,178,000 after purchasing an additional 144,035 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cross Country Healthcare by 80.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock valued at $9,963,000 after purchasing an additional 179,093 shares in the last quarter. Paradiem LLC raised its stake in Cross Country Healthcare by 5.0% in the third quarter. Paradiem LLC now owns 131,989 shares of the business services provider’s stock valued at $3,272,000 after purchasing an additional 6,341 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Cross Country Healthcare by 946.0% in the third quarter. Qube Research & Technologies Ltd now owns 115,318 shares of the business services provider’s stock valued at $2,859,000 after purchasing an additional 104,293 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in 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 research note on Thursday, February 22nd. TheStreet downgraded shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Barrington Research decreased 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 note on Tuesday, February 27th. Finally, Benchmark decreased their price target on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Cross Country Healthcare currently has an average rating of “Hold” and a consensus price target of $21.67.

Insider Buying and Selling

In related news, insider Karen Mote sold 6,216 shares of Cross Country Healthcare stock in a transaction on Friday, March 15th. The shares were 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 $594,961.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.90% of the stock is owned by insiders.

Cross Country Healthcare Stock Performance

CCRN stock opened at $17.13 on Friday. Cross Country Healthcare, Inc. has a one year low of $15.65 and a one year high of $28.75. The company’s 50 day moving average price is $18.28 and its two-hundred day moving average price is $20.57. The company has a market capitalization of $594.02 million, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The company had revenue of $414.04 million for the quarter, compared to the consensus estimate of $404.42 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was down 34.1% on a year-over-year basis. On average, research analysts predict that Cross Country Healthcare, Inc. will post 0.94 EPS for the current year.

About Cross Country Healthcare

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.