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

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have been given a consensus rating of “Hold” by the six analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.60.

Several equities research analysts have recently commented on CCRN shares. Truist Financial boosted their target price on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barrington Research decreased their price objective on Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, August 8th.

Cross Country Healthcare Stock Performance

CCRN stock opened at $12.39 on Friday. Cross Country Healthcare has a fifty-two week low of $12.00 and a fifty-two week high of $24.63. The stock’s 50 day simple moving average is $14.47 and its 200 day simple moving average is $15.26. The company has a market cap of $430.85 million, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 2.72 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The firm had revenue of $339.77 million for the quarter, compared to analyst estimates of $334.75 million. During the same period in the previous year, the company earned $0.69 earnings per share. Cross Country Healthcare’s revenue for the quarter was down 37.2% compared to the same quarter last year. Equities analysts predict that Cross Country Healthcare will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other Cross Country Healthcare news, insider Karen Mote sold 13,829 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $17.08, for a total value of $236,199.32. Following the completion of the sale, the insider now owns 24,696 shares in the company, valued at approximately $421,807.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Karen Mote sold 13,829 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $17.08, for a total value of $236,199.32. Following the transaction, the insider now directly owns 24,696 shares of the company’s stock, valued at approximately $421,807.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Cynthia Ann Grieco sold 1,945 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $17.21, for a total transaction of $33,473.45. Following the transaction, the vice president now owns 7,605 shares of the company’s stock, valued at approximately $130,882.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cross Country Healthcare

Hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its position in Cross Country Healthcare by 3.8% in the second quarter. SummerHaven Investment Management LLC now owns 28,376 shares of the business services provider’s stock worth $393,000 after buying an additional 1,032 shares during the last quarter. Raymond James & Associates grew its stake in shares of Cross Country Healthcare by 0.7% during the 2nd quarter. Raymond James & Associates now owns 165,324 shares of the business services provider’s stock worth $2,288,000 after acquiring an additional 1,155 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Cross Country Healthcare by 9.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,639 shares of the business services provider’s stock worth $312,000 after acquiring an additional 1,450 shares during the last quarter. GAMMA Investing LLC raised its stake in Cross Country Healthcare by 32.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,543 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 1,865 shares during the period. Finally, Versor Investments LP lifted its holdings in Cross Country Healthcare by 20.4% during the second quarter. Versor Investments LP now owns 12,400 shares of the business services provider’s stock valued at $172,000 after purchasing an additional 2,100 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.