Bank of New York Mellon Corp Increases Stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Bank of New York Mellon Corp raised its holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 3.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 304,956 shares of the business services provider’s stock after buying an additional 9,090 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cross Country Healthcare were worth $4,221,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CCRN. SummerHaven Investment Management LLC boosted its holdings in Cross Country Healthcare by 3.8% in the second quarter. SummerHaven Investment Management LLC now owns 28,376 shares of the business services provider’s stock worth $393,000 after acquiring an additional 1,032 shares in the last quarter. Raymond James & Associates raised its stake in shares of Cross Country Healthcare by 0.7% in the second quarter. Raymond James & Associates now owns 165,324 shares of the business services provider’s stock worth $2,288,000 after buying an additional 1,155 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Cross Country Healthcare by 9.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,639 shares of the business services provider’s stock worth $312,000 after buying an additional 1,450 shares during the period. Blair William & Co. IL grew its position in shares of Cross Country Healthcare by 4.6% during the first quarter. Blair William & Co. IL now owns 82,815 shares of the business services provider’s stock worth $1,550,000 after purchasing an additional 3,621 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Cross Country Healthcare by 30.4% during the fourth quarter. Truist Financial Corp now owns 15,967 shares of the business services provider’s stock worth $361,000 after purchasing an additional 3,722 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial raised their price target on Cross Country Healthcare from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barrington Research dropped their price target on 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.60.

Insider Buying and Selling

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

Cross Country Healthcare Trading Up 4.8 %

Shares of NASDAQ CCRN opened at $14.16 on Friday. Cross Country Healthcare, Inc. has a 12-month low of $12.87 and a 12-month high of $25.76. The stock has a market cap of $478.75 million, a P/E ratio of 10.89, a PEG ratio of 2.61 and a beta of 0.63. The business’s fifty day simple moving average is $14.99 and its 200-day simple moving average is $15.86.

Cross Country Healthcare (NASDAQ:CCRN) last released 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 company had revenue of $339.77 million for the quarter, compared to analysts’ expectations of $334.75 million. During the same period in the prior year, the business earned $0.69 EPS. The business’s quarterly revenue was down 37.2% compared to the same quarter last year. On average, equities analysts forecast that Cross Country Healthcare, Inc. will post 0.52 EPS for the current fiscal year.

Cross Country Healthcare 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.