Cross Country Healthcare (NASDAQ:CCRN) Sets New 52-Week Low at $14.05

Cross Country Healthcare, Inc. (NASDAQ:CCRN) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $14.05 and last traded at $14.49, with a volume of 37717 shares changing hands. The stock had previously closed at $14.16.

Analysts Set New Price Targets

Several brokerages have issued reports on CCRN. Benchmark dropped their price objective on shares of 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. Barrington Research dropped their price objective on shares of Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Finally, TheStreet cut shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cross Country Healthcare currently has an average rating of “Hold” and an average target price of $20.83.

Cross Country Healthcare Trading Down 3.0 %

The firm has a market capitalization of $485.39 million, a price-to-earnings ratio of 10.74, a PEG ratio of 1.95 and a beta of 0.74. The stock’s 50 day moving average price is $15.55 and its two-hundred day moving average price is $18.54.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The business had revenue of $379.17 million for the quarter, compared to analyst estimates of $374.38 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue for the quarter was down 39.1% compared to the same quarter last year. On average, sell-side analysts forecast that Cross Country Healthcare, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Marc S. Krug sold 13,657 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $14.82, for a total value of $202,396.74. Following the sale, the insider now directly owns 36,020 shares in the company, valued at approximately $533,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cross Country Healthcare news, insider Marc S. Krug sold 13,657 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $14.82, for a total value of $202,396.74. Following the transaction, the insider now directly owns 36,020 shares in the company, valued at approximately $533,816.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Phillip Lyn Noe sold 9,646 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total transaction of $136,876.74. Following the completion of the transaction, the insider now owns 10,162 shares in the company, valued at $144,198.78. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Cross Country Healthcare in the 4th quarter valued at about $28,000. Gladius Capital Management LP lifted its holdings in Cross Country Healthcare by 37.1% in the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 515 shares in the last quarter. Denali Advisors LLC lifted its holdings in Cross Country Healthcare by 3,885.5% in the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 5,362 shares in the last quarter. EMC Capital Management purchased a new position in Cross Country Healthcare in the 1st quarter valued at about $155,000. Finally, Aigen Investment Management LP purchased a new position in Cross Country Healthcare in the 3rd quarter valued at about $219,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

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.