Cross Country Healthcare (NASDAQ:CCRN) Stock Price Down 4.1% After Analyst Downgrade

Cross Country Healthcare, Inc. (NASDAQ:CCRN)’s stock price traded down 4.1% during trading on Monday after Barrington Research lowered their price target on the stock from $24.00 to $21.00. Barrington Research currently has an outperform rating on the stock. Cross Country Healthcare traded as low as $15.98 and last traded at $15.98. 169,240 shares were traded during trading, a decline of 62% from the average session volume of 448,589 shares. The stock had previously closed at $16.67.

Several other equities research analysts also recently commented on CCRN. Truist Financial dropped their target price on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Benchmark dropped their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.83.

Insider Buying and Selling at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of Cross Country Healthcare stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the sale, the insider now directly owns 35,101 shares in the company, valued at $594,961.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cross Country Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of CCRN. Pacer Advisors Inc. raised its position in Cross Country Healthcare by 50.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock worth $56,364,000 after acquiring an additional 834,941 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cross Country Healthcare by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,256,832 shares of the business services provider’s stock worth $51,095,000 after acquiring an additional 76,954 shares in the last quarter. Wasatch Advisors LP raised its position in Cross Country Healthcare by 74.3% in the fourth quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after acquiring an additional 934,841 shares in the last quarter. Principal Financial Group Inc. increased its stake in 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 worth $48,743,000 after purchasing an additional 69,013 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in 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 worth $17,793,000 after purchasing an additional 2,026 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Cross Country Healthcare Stock Performance

The stock has a 50 day moving average of $17.90 and a two-hundred day moving average of $19.95. The stock has a market cap of $557.02 million, a PE ratio of 12.32, a PEG ratio of 2.17 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $379.17 million for the quarter, compared to analysts’ expectations of $374.38 million. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. Cross Country Healthcare’s revenue was down 39.1% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. Analysts expect that Cross Country Healthcare, Inc. will post 0.77 EPS 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.