Cross Country Healthcare, Inc. (NASDAQ:CCRN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 37.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,482 shares of the business services provider’s stock after selling 201,991 shares during the period. Federated Hermes Inc.’s holdings in Cross Country Healthcare were worth $7,595,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of Cross Country Healthcare by 50.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock valued at $56,364,000 after acquiring an additional 834,941 shares during the period. Principal Financial Group Inc. increased its position in shares of Cross Country Healthcare by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,966,251 shares of the business services provider’s stock valued at $48,743,000 after acquiring an additional 69,013 shares during the period. Deutsche Bank AG increased its position in shares of Cross Country Healthcare by 0.3% in the 3rd quarter. Deutsche Bank AG now owns 717,762 shares of the business services provider’s stock valued at $17,793,000 after acquiring an additional 2,026 shares during the period. Invesco Ltd. increased its position in shares of Cross Country Healthcare by 1.8% in the 3rd quarter. Invesco Ltd. now owns 558,302 shares of the business services provider’s stock valued at $13,840,000 after acquiring an additional 10,137 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cross Country Healthcare by 80.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock valued at $9,963,000 after acquiring an additional 179,093 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CCRN. Benchmark lowered their price target on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Barrington Research lowered their price target on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Truist Financial lowered their price target on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock 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. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.67.

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the firm’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 directly owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.90% of the stock is currently owned by corporate insiders.

Cross Country Healthcare Stock Down 1.1 %

CCRN stock opened at $17.57 on Thursday. The company’s 50-day simple moving average is $18.00 and its 200-day simple moving average is $20.31. Cross Country Healthcare, Inc. has a 52-week low of $15.65 and a 52-week high of $28.75. The firm has a market cap of $609.33 million, a P/E ratio of 8.66, a PEG ratio of 1.85 and a beta of 0.75.

Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The business had revenue of $414.04 million for the quarter, compared to analyst estimates of $404.42 million. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue for the quarter was down 34.1% on a year-over-year basis. On average, analysts anticipate that Cross Country Healthcare, Inc. will post 0.92 earnings per share for the current fiscal year.

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'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.