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

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $28.00.

Several research firms have issued reports on CCRN. StockNews.com started coverage on shares of Cross Country Healthcare in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Truist Financial lowered their price target on Cross Country Healthcare from $25.00 to $22.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Barrington Research cut their price objective on Cross Country Healthcare from $35.00 to $29.00 and set an “outperform” rating on the stock in a research report on Monday, August 14th. Credit Suisse Group decreased their target price on shares of Cross Country Healthcare from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, August 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $21.00 price target (down previously from $32.00) on shares of Cross Country Healthcare in a research report on Friday, November 3rd.

Cross Country Healthcare Stock Down 2.0 %

Shares of NASDAQ CCRN opened at $17.94 on Tuesday. The stock has a market capitalization of $630.59 million, a PE ratio of 6.36, a P/E/G ratio of 1.37 and a beta of 1.03. The firm has a fifty day moving average of $22.99 and a 200-day moving average of $24.72. Cross Country Healthcare has a 52-week low of $15.65 and a 52-week high of $36.90.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, November 1st. The business services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $442.29 million during the quarter, compared to analyst estimates of $443.90 million. Cross Country Healthcare had a net margin of 4.58% and a return on equity of 23.60%. Cross Country Healthcare’s revenue was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. Equities research analysts expect that Cross Country Healthcare will post 2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Marc S. Krug sold 6,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $19.91, for a total transaction of $119,460.00. Following the transaction, the insider now directly owns 39,387 shares of the company’s stock, valued at $784,195.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cross Country Healthcare news, insider Marc S. Krug sold 6,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $19.91, for a total value of $119,460.00. Following the transaction, the insider now directly owns 39,387 shares of the company’s stock, valued at approximately $784,195.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Cynthia Ann Grieco sold 6,370 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $20.60, for a total transaction of $131,222.00. Following the transaction, the vice president now directly owns 7,464 shares in the company, valued at approximately $153,758.40. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in shares of Cross Country Healthcare by 54.5% in the second quarter. Pacer Advisors Inc. now owns 722,822 shares of the business services provider’s stock valued at $20,297,000 after acquiring an additional 255,052 shares during the period. Texas Permanent School Fund Corp increased its stake in Cross Country Healthcare by 33.4% during the first quarter. Texas Permanent School Fund Corp now owns 31,774 shares of the business services provider’s stock valued at $709,000 after acquiring an additional 7,955 shares during the period. Federated Hermes Inc. raised its holdings in Cross Country Healthcare by 88.7% in the 1st quarter. Federated Hermes Inc. now owns 343,067 shares of the business services provider’s stock valued at $7,657,000 after acquiring an additional 161,223 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Cross Country Healthcare by 117.6% in the 2nd quarter. Foundry Partners LLC now owns 269,739 shares of the business services provider’s stock worth $7,574,000 after acquiring an additional 145,764 shares during the period. Finally, Littlejohn & Co. LLC grew its holdings in shares of Cross Country Healthcare by 4.1% during the 2nd quarter. Littlejohn & Co. LLC now owns 297,653 shares of the business services provider’s stock worth $8,358,000 after purchasing an additional 11,647 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

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 operates in two segments, Nurse and Allied Staffing, and Physician Staffing. The Nurse and Allied Staffing segment provides workforce solutions and 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; managed services programs services; education healthcare services; in-home care services; and outsourcing services.