Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives $12.05 Average PT from Analysts

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has received a consensus recommendation of “Reduce” from the ten research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.05.

A number of equities analysts have weighed in on the company. Benchmark lowered Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, May 8th. Citigroup downgraded Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. Weiss Ratings raised Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Barrington Research reiterated a “market perform” rating and set a $13.25 price target on shares of Cross Country Healthcare in a research report on Monday, June 8th. Finally, Truist Financial boosted their price target on Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Cross Country Healthcare

Institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. boosted its holdings in Cross Country Healthcare by 4.0% during the second quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock worth $31,820,000 after buying an additional 94,798 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Cross Country Healthcare by 56.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock valued at $16,307,000 after buying an additional 397,216 shares in the last quarter. Quinn Opportunity Partners LLC purchased a new position in Cross Country Healthcare in the fourth quarter valued at $8,470,000. Dana Investment Advisors Inc. raised its position in shares of Cross Country Healthcare by 71.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 1,008,525 shares of the business services provider’s stock worth $8,169,000 after acquiring an additional 419,429 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cross Country Healthcare by 28.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 969,458 shares of the business services provider’s stock worth $7,853,000 after acquiring an additional 211,925 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Price Performance

CCRN stock opened at $13.24 on Thursday. The company has a market capitalization of $427.78 million, a P/E ratio of -4.34, a price-to-earnings-growth ratio of 14.31 and a beta of 0.45. Cross Country Healthcare has a 12 month low of $7.43 and a 12 month high of $14.99. The firm’s fifty day simple moving average is $13.16 and its 200-day simple moving average is $10.61.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Cross Country Healthcare had a negative net margin of 9.84% and a negative return on equity of 0.74%. The firm had revenue of $241.06 million during the quarter, compared to analysts’ expectations of $237.06 million. As a group, sell-side analysts forecast that Cross Country Healthcare will post 0.09 earnings per share for the current year.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.