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

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have earned a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $21.67.

A number of research analysts have commented on the stock. Benchmark cut their price target on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Barrington Research dropped their price objective on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Truist Financial dropped their price objective on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Finally, TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st.

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.95, for a total value of $105,361.20. Following the transaction, the insider now owns 35,101 shares in the company, valued at approximately $594,961.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.50% of the stock is owned by company insiders.

Institutional Trading of Cross Country Healthcare

A number of institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. lifted its holdings in shares of Cross Country Healthcare by 176.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,179 shares of the business services provider’s stock worth $177,000 after acquiring an additional 5,216 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Cross Country Healthcare by 118.6% during the 1st quarter. JPMorgan Chase & Co. now owns 256,032 shares of the business services provider’s stock worth $5,548,000 after acquiring an additional 138,906 shares during the period. US Bancorp DE bought a new stake in shares of Cross Country Healthcare during the 1st quarter worth approximately $27,000. Citigroup Inc. lifted its holdings in shares of Cross Country Healthcare by 5.9% during the 1st quarter. Citigroup Inc. now owns 31,568 shares of the business services provider’s stock worth $684,000 after acquiring an additional 1,751 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Cross Country Healthcare by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 23,527 shares of the business services provider’s stock worth $510,000 after acquiring an additional 2,027 shares during the period. Institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Stock Performance

NASDAQ CCRN opened at $17.50 on Friday. The firm has a 50-day simple moving average of $18.54 and a 200 day simple moving average of $20.82. Cross Country Healthcare has a twelve month low of $15.65 and a twelve month high of $28.75. The stock has a market cap of $606.90 million, a PE ratio of 8.62, a PEG ratio of 1.92 and a beta of 0.75.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $414.04 million during the quarter, compared to analysts’ expectations of $404.42 million. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The company’s revenue for the quarter was down 34.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. Research analysts forecast that Cross Country Healthcare will post 0.94 earnings per share for the current fiscal year.

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.