Zurcher Kantonalbank Zurich Cantonalbank Sells 14,628 Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 62.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,942 shares of the business services provider’s stock after selling 14,628 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cross Country Healthcare were worth $202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of 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 valued at $56,364,000 after acquiring an additional 834,941 shares during the last quarter. Principal Financial Group Inc. grew its stake in Cross Country Healthcare by 3.6% in the third quarter. Principal Financial Group Inc. now owns 1,966,251 shares of the business services provider’s stock valued at $48,743,000 after purchasing an additional 69,013 shares in the last quarter. Deutsche Bank AG increased its position in shares of Cross Country Healthcare by 0.3% during 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 during the last quarter. Invesco Ltd. raised its stake in shares of Cross Country Healthcare by 1.8% during the 3rd quarter. Invesco Ltd. now owns 558,302 shares of the business services provider’s stock worth $13,840,000 after purchasing an additional 10,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Cross Country Healthcare by 80.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock worth $9,963,000 after purchasing an additional 179,093 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock opened at $16.44 on Wednesday. The business has a fifty day simple moving average of $17.86 and a two-hundred day simple moving average of $19.90. Cross Country Healthcare, Inc. has a 1 year low of $15.65 and a 1 year high of $28.75. The company has a market capitalization of $571.68 million, a price-to-earnings ratio of 12.65, a P/E/G ratio of 2.17 and a beta of 0.77.

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

Wall Street Analyst Weigh In

CCRN has been the subject of several recent analyst reports. Barrington Research cut their price objective on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Monday. TheStreet downgraded Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. 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 report on Thursday, February 22nd. Finally, Benchmark cut their price objective on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.83.

Insider Buying and Selling at Cross Country Healthcare

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $16.95, for a total transaction of $105,361.20. Following the transaction, the insider now owns 35,101 shares in the company, valued at approximately $594,961.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.90% of the company’s stock.

Cross Country Healthcare 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.