Cross Country Healthcare (NASDAQ:CCRN) Trading Up 6.1%

Cross Country Healthcare, Inc. (NASDAQ:CCRN)’s share price was up 6.1% during mid-day trading on Tuesday . The stock traded as high as $17.60 and last traded at $17.60. Approximately 137,267 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 423,478 shares. The stock had previously closed at $16.59.

Analyst Upgrades and Downgrades

CCRN has been the topic of several recent research reports. Benchmark reduced their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barrington Research decreased their target price on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Cross Country Healthcare presently has an average rating of “Hold” and a consensus price target of $20.83.

Cross Country Healthcare Stock Performance

The business’s fifty day simple moving average is $14.49 and its 200 day simple moving average is $17.10. The stock has a market cap of $627.95 million, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.27 and a beta of 0.64.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly 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 return on equity of 11.69% and a net margin of 2.58%. The business had revenue of $379.17 million for the quarter, compared to analysts’ expectations of $374.38 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was down 39.1% compared to the same quarter last year. As a group, analysts forecast that Cross Country Healthcare, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, insider Marc S. Krug sold 13,657 shares of Cross Country Healthcare stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $14.82, for a total value of $202,396.74. Following the completion of the sale, the insider now owns 36,020 shares in the company, valued at $533,816.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Marc S. Krug sold 13,657 shares of Cross Country Healthcare stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $14.82, for a total value of $202,396.74. Following the completion of the transaction, the insider now directly owns 36,020 shares in the company, valued at $533,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Phillip Lyn Noe sold 9,646 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total value of $136,876.74. Following the sale, the insider now owns 10,162 shares in the company, valued at approximately $144,198.78. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Cross Country Healthcare

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Cross Country Healthcare during the fourth quarter worth $28,000. Gladius Capital Management LP grew its position in shares of Cross Country Healthcare by 37.1% during the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after buying an additional 515 shares during the last quarter. Denali Advisors LLC raised its stake in Cross Country Healthcare by 3,885.5% during the first quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after acquiring an additional 5,362 shares during the period. EMC Capital Management bought a new position in Cross Country Healthcare in the first quarter worth about $155,000. Finally, Bayesian Capital Management LP acquired a new position in Cross Country Healthcare in the first quarter valued at approximately $195,000. 96.03% of the stock is currently owned by institutional investors.

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.