Zacks Investment Research downgraded shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) from a hold rating to a sell rating in a research report released on Monday.
According to Zacks, “Cross Country, Inc. is a provider of healthcare staffing services. They also provide staffing of clinical research professionals and allied healthcare professionals, such as radiology technicians, rehabilitation therapists and respiratory therapists. Their staffing operations are complemented by other human capital management services, including search and recruitment, consulting, education and training and resource management services. “
Other equities research analysts have also issued reports about the stock. Benchmark Co. dropped their target price on shares of Cross Country Healthcare from $18.00 to $17.00 and set a buy rating for the company in a research report on Thursday, August 3rd. BidaskClub lowered shares of Cross Country Healthcare from a sell rating to a strong sell rating in a research report on Monday, July 24th. TheStreet upgraded shares of Cross Country Healthcare from a c+ rating to a b rating in a research report on Wednesday, September 27th. Finally, UBS AG reiterated a buy rating and set a $15.00 target price (down from $16.50) on shares of Cross Country Healthcare in a research report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $15.64.
Shares of Cross Country Healthcare (CCRN) traded up 0.30% during trading on Monday, reaching $13.25. 13,993 shares of the company traded hands. The firm’s 50-day moving average is $13.08 and its 200-day moving average is $12.83. Cross Country Healthcare has a 12-month low of $10.88 and a 12-month high of $16.38. The stock has a market capitalization of $483.55 million, a PE ratio of 48.89 and a beta of 0.84.
Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.09 by $0.07. The company had revenue of $209.31 million during the quarter, compared to analysts’ expectations of $209.92 million. Cross Country Healthcare had a net margin of 1.06% and a return on equity of 12.78%. Cross Country Healthcare’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 earnings per share. On average, equities analysts predict that Cross Country Healthcare will post $0.61 earnings per share for the current fiscal year.
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In other Cross Country Healthcare news, insider William J. Grubbs sold 49,113 shares of Cross Country Healthcare stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $12.16, for a total transaction of $597,214.08. Following the completion of the sale, the insider now directly owns 395,188 shares in the company, valued at $4,805,486.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CCRN. Simcoe Capital Management LLC lifted its position in Cross Country Healthcare by 120.9% during the second quarter. Simcoe Capital Management LLC now owns 1,227,590 shares of the business services provider’s stock valued at $15,848,000 after purchasing an additional 671,885 shares during the last quarter. Benefit Street Partners LLC lifted its holdings in shares of Cross Country Healthcare by 30.9% in the 2nd quarter. Benefit Street Partners LLC now owns 1,544,440 shares of the business services provider’s stock worth $19,939,000 after acquiring an additional 364,229 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Cross Country Healthcare by 98.1% in the 1st quarter. Royce & Associates LP now owns 579,686 shares of the business services provider’s stock worth $8,324,000 after acquiring an additional 287,123 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Cross Country Healthcare by 4.1% in the 1st quarter. Wellington Management Group LLP now owns 4,077,922 shares of the business services provider’s stock worth $58,559,000 after acquiring an additional 159,688 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of 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 worth $9,148,000 after acquiring an additional 137,788 shares during the last quarter. Institutional investors and hedge funds own 95.60% of the company’s stock.
Cross Country Healthcare Company Profile
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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