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

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CCRN. Barrington Research reduced their target price on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Benchmark reduced their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Cross Country Healthcare currently has a consensus rating of “Hold” and a consensus target price of $20.83.

Cross Country Healthcare Stock Performance

The company has a 50 day moving average of $14.49 and a 200 day moving average of $17.10. The stock has a market capitalization of $627.95 million, a price-to-earnings ratio of 13.58, a P/E/G ratio of 2.27 and a beta of 0.64.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share 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 period last year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was down 39.1% on a year-over-year basis. On average, equities analysts predict that Cross Country Healthcare, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Cross Country Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCRN. Dimensional Fund Advisors LP raised its holdings in Cross Country Healthcare by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,256,832 shares of the business services provider’s stock valued at $51,095,000 after buying an additional 76,954 shares during the period. Wasatch Advisors LP boosted its position in shares of Cross Country Healthcare by 74.3% during the 4th quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after purchasing an additional 934,841 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Cross Country Healthcare by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 421,576 shares of the business services provider’s stock valued at $9,544,000 after purchasing an additional 19,689 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Cross Country Healthcare by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 304,956 shares of the business services provider’s stock valued at $4,221,000 after purchasing an additional 9,090 shares during the last quarter. Finally, Foundry Partners LLC raised its position in Cross Country Healthcare by 8.0% in the first quarter. Foundry Partners LLC now owns 278,171 shares of the business services provider’s stock valued at $5,207,000 after purchasing an additional 20,679 shares during the period. Hedge funds and other 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.