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

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have received a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $19.60.

Several research analysts have weighed in on the company. Truist Financial boosted their price target on 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 dropped their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark lowered their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd.

Cross Country Healthcare Stock Performance

Shares of CCRN opened at $14.06 on Thursday. The stock has a 50 day simple moving average of $14.83 and a 200 day simple moving average of $16.37. Cross Country Healthcare has a 52-week low of $12.87 and a 52-week high of $26.17. The firm has a market capitalization of $488.92 million, a PE ratio of 10.82, a P/E/G ratio of 2.57 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.10 EPS for the quarter, missing the consensus estimate 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 business had revenue of $339.77 million for the quarter, compared to the consensus estimate of $334.75 million. During the same period last year, the firm earned $0.69 earnings per share. The company’s quarterly revenue was down 37.2% compared to the same quarter last year. Equities research analysts predict that Cross Country Healthcare will post 0.68 EPS for the current fiscal year.

Insider Transactions at Cross Country Healthcare

In related news, insider Marc S. Krug sold 13,657 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Marc S. Krug sold 13,657 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $236,199.32. Following the completion of the sale, the insider now directly owns 24,696 shares of the company’s stock, valued at approximately $421,807.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,431 shares of company stock worth $472,070. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Cross Country Healthcare

A number of hedge funds have recently added to or reduced their stakes in CCRN. Pacer Advisors Inc. grew its holdings in shares of Cross Country Healthcare by 3.8% during the 2nd quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock worth $62,984,000 after purchasing an additional 165,032 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cross Country Healthcare by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,360,016 shares of the business services provider’s stock valued at $32,662,000 after buying an additional 24,363 shares in the last quarter. Wasatch Advisors LP lifted its holdings 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 acquiring an additional 934,841 shares during the period. American Century Companies Inc. raised its position in Cross Country Healthcare by 15.9% during the second quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider’s stock valued at $10,696,000 after purchasing an additional 106,226 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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. Institutional investors own 96.03% of the company’s stock.

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.