Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives $20.83 Consensus Price Target from Analysts

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have received an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.83.

Several research analysts have recently weighed in on CCRN shares. Benchmark dropped their price target 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. TheStreet lowered Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Finally, Barrington Research decreased their price objective on 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.

Cross Country Healthcare Price Performance

CCRN stock opened at $13.84 on Wednesday. Cross Country Healthcare has a 1 year low of $13.48 and a 1 year high of $28.75. The company has a market cap of $481.22 million, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.93 and a beta of 0.74. The stock’s fifty day moving average price is $15.21 and its 200-day moving average price is $18.30.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $374.38 million. During the same period last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was down 39.1% on a year-over-year basis. As a group, analysts expect that Cross Country Healthcare will post 0.73 earnings per share for the current year.

Insider Transactions at Cross Country Healthcare

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

Institutional Investors Weigh In On Cross Country Healthcare

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Cross Country Healthcare during the 4th quarter valued at approximately $28,000. Gladius Capital Management LP boosted its position 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 valued at $43,000 after acquiring an additional 515 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of Cross Country Healthcare by 3,885.5% in the first 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 bought a new stake in Cross Country Healthcare in the first quarter worth $155,000. Finally, Truvestments Capital LLC raised its stake in Cross Country Healthcare by 26.1% during the third quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 2,013 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

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.