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

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $19.60.

Several equities research analysts recently issued reports on the company. Barrington Research dropped their price objective on Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Truist Financial lifted their price target on Cross Country Healthcare from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 1st.

Cross Country Healthcare Price Performance

Cross Country Healthcare stock opened at $12.39 on Friday. The firm has a market capitalization of $430.85 million, a P/E ratio of 9.53, a PEG ratio of 2.72 and a beta of 0.63. Cross Country Healthcare has a one year low of $12.00 and a one year high of $24.63. The business has a fifty day moving average price of $14.47 and a 200-day moving average price of $15.26.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $339.77 million for the quarter, compared to analysts’ expectations of $334.75 million. Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The business’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. Sell-side analysts expect that Cross Country Healthcare will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 13,829 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $17.08, for a total value of $236,199.32. Following the completion of the transaction, the insider now directly owns 24,696 shares in the company, valued at approximately $421,807.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Karen Mote sold 13,829 shares of the business’s stock in a transaction that occurred on 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 directly owns 24,696 shares in the company, valued at approximately $421,807.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Cynthia Ann Grieco sold 1,945 shares of the stock in a transaction on 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 directly owns 7,605 shares in the company, valued at approximately $130,882.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CCRN. Wasatch Advisors LP grew its position in 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 last quarter. Pacer Advisors Inc. boosted its stake in shares of Cross Country Healthcare by 3.8% during the second quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock valued at $62,984,000 after purchasing an additional 165,032 shares during the period. Boston Partners bought a new position in shares of Cross Country Healthcare in the first quarter worth approximately $2,511,000. American Century Companies Inc. increased its stake in shares of Cross Country Healthcare by 15.9% in the second quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider’s stock worth $10,696,000 after buying an additional 106,226 shares during the period. Finally, Dana Investment Advisors Inc. raised its holdings in Cross Country Healthcare by 34.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider’s stock valued at $5,596,000 after buying an additional 104,136 shares during the last quarter. Hedge funds and other 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.