Barrington Research Cuts Cross Country Healthcare (NASDAQ:CCRN) Price Target to $21.00

Cross Country Healthcare (NASDAQ:CCRN) had its price objective reduced by investment analysts at Barrington Research from $24.00 to $21.00 in a report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price target would indicate a potential upside of 27.74% from the company’s previous close.

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

Cross Country Healthcare Stock Up 2.6 %

Shares of NASDAQ:CCRN opened at $16.44 on Monday. The firm’s 50 day moving average price is $17.86 and its 200 day moving average price is $19.90. The stock has a market cap of $571.68 million, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. Cross Country Healthcare has a fifty-two week low of $15.65 and a fifty-two week high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data 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 company had revenue of $379.17 million for the quarter, compared to analysts’ expectations of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The firm’s revenue for the quarter was down 39.1% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. On average, equities analysts anticipate that Cross Country Healthcare will post 0.77 EPS for the current year.

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $16.95, for a total value of $105,361.20. Following the sale, the insider now owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of Cross Country Healthcare during the 4th quarter worth $28,000. Gladius Capital Management LP lifted its stake in shares of Cross Country Healthcare by 37.1% during the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after purchasing an additional 515 shares during the period. Denali Advisors LLC lifted its stake in shares of Cross Country Healthcare by 3,885.5% during the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after purchasing an additional 5,362 shares during the period. Aigen Investment Management LP purchased a new position in shares of Cross Country Healthcare during the 3rd quarter worth $219,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Cross Country Healthcare by 212.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock worth $226,000 after buying an additional 8,225 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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.