Cross Country Healthcare (NASDAQ:CCRN) Shares Gap Up to $14.49

Cross Country Healthcare, Inc. (NASDAQ:CCRN)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $14.49, but opened at $14.95. Cross Country Healthcare shares last traded at $15.41, with a volume of 66,094 shares traded.

Wall Street Analyst Weigh In

CCRN has been the subject of a number of analyst reports. Barrington Research reduced their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Truist Financial lifted their price objective on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Benchmark lowered their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cross Country Healthcare has an average rating of “Hold” and a consensus target price of $19.60.

Cross Country Healthcare Price Performance

The business has a 50 day moving average price of $14.83 and a 200 day moving average price of $16.29. The firm has a market capitalization of $533.43 million, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.57 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The company had revenue of $339.77 million during the quarter, compared to the consensus estimate of $334.75 million. During the same period last year, the company earned $0.69 earnings per share. Cross Country Healthcare’s revenue for the quarter was down 37.2% on a year-over-year basis. As a group, equities analysts expect that Cross Country Healthcare, Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling at Cross Country Healthcare

In other news, VP Cynthia Ann Grieco sold 1,945 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $17.21, for a total transaction of $33,473.45. Following the completion of the transaction, the vice president now directly owns 7,605 shares of the company’s stock, valued at approximately $130,882.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Cynthia Ann Grieco sold 1,945 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $17.21, for a total value of $33,473.45. Following the sale, the vice president now directly owns 7,605 shares in the company, valued at approximately $130,882.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marc S. Krug sold 13,657 shares of the firm’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 owns 36,020 shares of the company’s stock, valued at approximately $533,816.40. The disclosure for this sale can be found here. Insiders have sold 29,431 shares of company stock valued at $472,070 in the last 90 days. 4.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cross Country Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in CCRN. Wasatch Advisors LP lifted its holdings in Cross Country Healthcare by 74.3% during the 4th quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock valued at $49,663,000 after purchasing an additional 934,841 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Cross Country Healthcare by 3.8% in the 2nd quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock worth $62,984,000 after acquiring an additional 165,032 shares in the last quarter. Boston Partners bought a new stake in Cross Country Healthcare during the 1st quarter worth approximately $2,511,000. Assenagon Asset Management S.A. bought a new stake in Cross Country Healthcare during the 1st quarter worth approximately $2,078,000. Finally, American Century Companies Inc. increased its holdings in Cross Country Healthcare by 15.9% during the 2nd quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider’s stock valued at $10,696,000 after purchasing an additional 106,226 shares in the last quarter. Institutional investors and hedge funds 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.