Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a research report released on Tuesday, January 9th.
According to Zacks, “Cross Country Healthcare, Inc. is a national leader in providing innovative healthcare workforce solutions and staffing services. Their diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities, and homecare. They are able to place clinicians on travel and per diem assignments, local short-term contracts and permanent positions. They are a market leader in providing flexible workforce management solutions, which include managed services programs (MSP), internal resource pool consulting and development, electronic medical record (EMR) transition staffing, recruitment process outsourcing, predictive modeling and other outsourcing and consultative services. “
A number of other research analysts have also recently issued reports on CCRN. TheStreet upgraded Cross Country Healthcare from a c+ rating to a b rating in a research note on Wednesday, September 27th. BidaskClub raised Cross Country Healthcare from a sell rating to a hold rating in a report on Saturday, December 30th. BMO Capital Markets reduced their target price on Cross Country Healthcare from $15.00 to $14.00 and set an outperform rating for the company in a report on Monday, November 6th. Cantor Fitzgerald reissued a buy rating and issued a $18.00 target price on shares of Cross Country Healthcare in a report on Wednesday, November 1st. Finally, Credit Suisse Group assumed coverage on Cross Country Healthcare in a report on Tuesday, November 7th. They issued a neutral rating and a $13.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $15.31.
Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Wednesday, November 1st. The business services provider reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $228.50 million during the quarter, compared to analysts’ expectations of $228.97 million. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 0.19%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. equities analysts forecast that Cross Country Healthcare will post 0.64 EPS for the current year.
In other news, Director Thomas C. Dircks bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $11.77 per share, for a total transaction of $117,700.00. Following the completion of the transaction, the director now owns 104,571 shares of the company’s stock, valued at $1,230,800.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Susan E. Ball sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $14.19, for a total value of $354,750.00. Following the sale, the general counsel now directly owns 126,921 shares in the company, valued at $1,801,008.99. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Simcoe Capital Management LLC raised its stake in Cross Country Healthcare by 120.9% in the 2nd quarter. Simcoe Capital Management LLC now owns 1,227,590 shares of the business services provider’s stock worth $15,848,000 after acquiring an additional 671,885 shares during the last quarter. Benefit Street Partners LLC grew its position in shares of Cross Country Healthcare by 30.9% during the 2nd quarter. Benefit Street Partners LLC now owns 1,544,440 shares of the business services provider’s stock valued at $19,939,000 after acquiring an additional 364,229 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Cross Country Healthcare by 12.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,448,727 shares of the business services provider’s stock valued at $20,615,000 after acquiring an additional 165,624 shares during the period. Royal Bank of Canada lifted its stake in Cross Country Healthcare by 24.1% in the 2nd quarter. Royal Bank of Canada now owns 708,646 shares of the business services provider’s stock valued at $9,148,000 after buying an additional 137,788 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Cross Country Healthcare by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,840 shares of the business services provider’s stock valued at $28,331,000 after buying an additional 133,341 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.
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About Cross Country Healthcare
Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.
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