Cross Country Healthcare (NASDAQ:CCRN) Trading Up 2.8%

Cross Country Healthcare, Inc. (NASDAQ:CCRN)’s share price traded up 2.8% during trading on Wednesday . The company traded as high as $15.22 and last traded at $15.17. 33,627 shares changed hands during trading, a decline of 92% from the average session volume of 430,910 shares. The stock had previously closed at $14.75.

Analyst Upgrades and Downgrades

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

Cross Country Healthcare Stock Performance

The firm has a market capitalization of $525.44 million, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.63. The stock’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $16.18.

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

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 13,829 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.08, for a total value of $236,199.32. Following the transaction, the insider now directly owns 24,696 shares of the company’s stock, valued at approximately $421,807.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Cynthia Ann Grieco sold 1,945 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.21, for a total value of $33,473.45. Following the completion of the sale, the vice president now owns 7,605 shares in the company, valued at approximately $130,882.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Karen Mote sold 13,829 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $17.08, for a total transaction of $236,199.32. Following the sale, the insider now owns 24,696 shares of the company’s stock, valued at approximately $421,807.68. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Dana Investment Advisors Inc. lifted its position in Cross Country Healthcare by 34.7% in the second quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider’s stock valued at $5,596,000 after purchasing an additional 104,136 shares during the period. Algert Global LLC grew its holdings in Cross Country Healthcare by 8.3% during the second quarter. Algert Global LLC now owns 62,174 shares of the business services provider’s stock worth $860,000 after acquiring an additional 4,751 shares during the period. AQR Capital Management LLC raised its position in Cross Country Healthcare by 39.9% in the second quarter. AQR Capital Management LLC now owns 322,483 shares of the business services provider’s stock worth $4,463,000 after acquiring an additional 92,011 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Cross Country Healthcare during the 2nd quarter worth $174,000. Finally, Public Sector Pension Investment Board increased its holdings in shares of Cross Country Healthcare by 4.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 71,927 shares of the business services provider’s stock valued at $995,000 after purchasing an additional 3,356 shares in the last quarter. 96.03% of the stock is 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.